Lord & Taylor has been revived under its new owners.
The Saadia Group has officially launched the 195-year-old iconic brand as a digital “collective store” whose merchandise offerings will include exclusive collaborations, new launches across categories and a robust private label. In addition to classic favorites, the new site will focus on up-and-coming and emerging brands.
Saadia bought the intellectual property and e-commerce assets of Lord & Taylor from its bankrupt owner, Le Tote Inc., in a bankruptcy auction in October 2020 for $12 million. (Lord & Taylor went bankrupt in August 2020 and eventually liquidated all its stores.)
“The future of retail is fast and agile, mirrored by our team — which has managed to put together a fantastic assortment of merchandise and a website — in record time of less than 120 days,” said Jack Saadia, principal and co-founder of The Saadia Group. “We are deeply committed to continuing the rich legacy of the brand in a progressive way. Today’s unveil is just the beginning.”
Saadia purchased the rights to Lord & Taylor shortly after closing on a deal to acquire the e-commerce business and all related intellectual property of RTW Retailwinds, parent company of New York & Company…Â Chain Store Age