America’s oldest department store chain, Lord & Taylor, is preparing to rise from the ashes. Four years after being declared bankrupt, the chain has announced that it will relaunch its activities in 2025, under the aegis of its new owner, the Régal Brands Global group, which specializes in brand licensing.
This news caused quite a stir.
In August 2020, the United States saw Lord & Taylor, a pioneer in the world of American department stores, filed for Chapter 11 bankruptcy. The establishment, specialized in luxury goods, had not lasted long in the face of successive confinements caused by covid, dragging down its previous parent company Le Tote, a startup focused on rental fashion, bought out by the Saadia Group in 2020.
Its new owner since September 10, Régal Brands Global, aims to revive the brand as what it never was: a luxury goods discounter.
A future luxury discounter
The Lord & Taylor brand is due to be reborn in the spring of 2025.
“This acquisition marks the beginning of an exciting new chapter in our storied history,“ said Sina Yenel, Head of Strategy at Regal Brands Global, interviewed by the Business of Fashion website, before pledging ”to revitalize the brand you know and love”.
The new owner intends to restore the luxury brand’s historic logo – the famous handwriting signed by merchandising officer Dorothy Shaver, to be discontinued in 2021 – and offer an “innovative” e-commerce site, opening up to new products for the occasion.
But here all familiarity with its historic clientele ends: Régal Brands Global wishes to transform Lord & Taylor into a discounter of luxury products, almost essentially online.
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Featured Photo: © Lord & Taylor
