Lord & Taylor, America's oldest department store chain, is making a comeback with an old logo, new owners and a new vision.
The iconic company, established in 1826 and with a long history in fashion, shuttered its brick-and-mortar stores in 2021 after years of financial hardship exacerbated by the pandemic. An e-commerce reboot also failed.
Now, under new owners Regal Brands Global, who acquired Lord & Taylor's intellectual property, the store and brand is looking to reclaim its lofty position in the retail industry with an online comeback in 2025 and a return of its iconic sweeping cursive logo – which had been canned under previous ownership.
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"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 website states. "Our focus will be on introducing new products under the iconic Lord & Taylor signature logo."
Regal Brands Global purchased Lord & Taylor intellectual property rights after the investment firm Saadia Group relinquished those rights in February after a court found it was in default on more than $45 million in debt.
Regal Brands Global says it wants to revitalize Lord & Taylor’s nostalgia and mix it with modernity so it never goes out of fashion. Lord & Taylor's website states that it has been "a symbol of elegance and style since its inception."
Sina Yenel, the chief strategy officer at Regal Brands Global, called the disposal of the classic logo 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 told the outlet referring to the plain logo with Helvetica font that had replaced its longstanding logo . "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 said a retail team of 75 is working on a merchandising strategy based on elevated style, without being super-luxury and eschewing fast fashion, according to Retail Drive.
The company is focusing on a sophisticated range of home goods, dresses and footwear.
"Lord & Taylor should be about fashion that is going to last," Yenel said.
Lord & Taylor’s website says the brand will continue to be an innovative retailer, focusing on unique products and new ways to shop.
Its licensed products will be available on its website and at select 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 are no immediate plans for physical stores, although Regal has indicated that it wishes to open stores in the future.
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Its flagship department store was the eponymously named Lord & Taylor Building on Fifth Avenue in New York City, which was purchased by Amazon in 2020 for $978 million. The 11-story structure was built in 1914.
In 2020, the store filed for bankruptcy along with its owner, the venture-backed fashion-rental subscription service Le Tote Inc. Lord & Taylor temporarily closed its 38 bricks-and-mortar locations in March 2020 when the pandemic struck, but continued to operate through online channels during the coronavirus pandemic.
That bankruptcy came less than a year after Le Tote agreed to buy Lord & Taylor from Hudson's Bay Co., the parent of Saks Fifth Avenue.
English-born Samuel Lord opened the original store in 1826 on Catherine Street in what is now Two Bridges, Manhattan.
source https://www.foxbusiness.com/retail/lord-taylor-americas-oldest-department-store-making-comeback
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