Lord & Taylor, America’s oldest division retailer chain, is making a comeback with an outdated brand, new homeowners and a brand new imaginative and prescient.
The long-lasting firm, established in 1826 and with a protracted historical past in trend, shuttered its brick-and-mortar shops in 2021 after years of economic hardship exacerbated by the pandemic. An e-commerce reboot additionally failed.
Now, below new homeowners Regal Manufacturers World, who acquired Lord & Taylor’s mental property, the shop and model is trying to reclaim its lofty place within the retail business with a web-based comeback in 2025 and a return of its iconic sweeping cursive brand – which had been canned below earlier possession.
“We are delighted to bring back our beloved logo and are dedicated to restoring Lord & Taylor’s reputation for exceptional customer service and quality,” the Lord & Taylor’s web site states. “Our focus will be on introducing new products under the iconic Lord & Taylor signature logo.”
Regal Manufacturers World bought Lord & Taylor mental property rights after the funding agency Saadia Group relinquished these rights in February after a courtroom discovered it was in default on greater than $45 million in debt.
Regal Manufacturers World says it desires to revitalize Lord & Taylor’s nostalgia and blend it with modernity so it by no means goes out of trend. Lord & Taylor’s web site states that it has been “a symbol of elegance and style since its inception.”
Sina Yenel, the chief technique officer at Regal Manufacturers World, known as the disposal of the basic brand in 2022 “the biggest betrayal of the brand” in an interview with Retail Drive.
“I understand going after young customers, but this is not a startup,” Yenel advised the outlet referring to the plain brand with Helvetica font that had changed its longstanding brand . “This is a brand that’s been out here for 198 years. Lord & Taylor has such a huge profile, among different generations and different cultures.”
He mentioned a retail crew of 75 is engaged on a merchandising technique based mostly on elevated fashion, with out being super-luxury and eschewing quick trend, based on Retail Drive.
The corporate is specializing in a complicated vary of dwelling items, attire and footwear.
“Lord & Taylor should be about fashion that is going to last,” Yenel mentioned.
Lord & Taylor’s web site says the model will proceed to be an modern retailer, specializing in distinctive merchandise and new methods to buy.
Its licensed merchandise shall be obtainable on its web site and at choose retailers globally, “along with exciting new brands.”
“With a rich history dating back to 1826, Lord & Taylor has consistently set the standard for luxury and sophistication in fashion. Our commitment to excellence is reflected in every product we offer, from timeless classics to contemporary designs. As we move forward, we continue to honor the brand’s storied past while embracing innovation to meet the evolving needs of our discerning customers.”
There aren’t any speedy plans for bodily shops, though Regal has indicated that it needs to open shops sooner or later.
Its flagship division retailer was the eponymously named Lord & Taylor Constructing on Fifth Avenue in New York Metropolis, which was bought by Amazon in 2020 for $978 million. The 11-story construction was in-built 1914.
In 2020, the shop filed for chapter together with its proprietor, the venture-backed fashion-rental subscription service Le Tote Inc. Lord & Taylor briefly closed its 38 bricks-and-mortar places in March 2020 when the pandemic struck, however continued to function via on-line channels in the course of the coronavirus pandemic.
That chapter got here lower than a 12 months after Le Tote agreed to purchase Lord & Taylor from Hudson’s Bay Co., the mum or dad of Saks Fifth Avenue.
English-born Samuel Lord opened the unique retailer in 1826 on Catherine Avenue in what’s now Two Bridges, Manhattan.
