The Saadia Group Announces the Official Digital Launch of Lord & Taylor
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NEW YORK, April 16, 2021 /PRNewswire/ Today, The Saadia Group officially launched the iconic American brand, Lord & Taylor as a digital Collective Store. From exclusive collaborations and merchandise to first-class service and unique events, this new chapter promises to bridge the 195-year heritage with a modern, innovative future.
As America s first and oldest department store, Lord & Taylor has been the favorite store for generations of shoppers and launched the careers of several American designers. Alongside classic favorites, the updated assortment will focus on up-and-coming and emerging brands.
The Saadia Group Announces the Official Digital Launch of Lord & Taylor
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Dive Brief:
In April, Lord & Taylor will be back in business, online only, to be known as America s Collective Store, according to an emailed press release Thursday from new owner The Saadia Group.
The investment firm won the intellectual property of the iconic department store and its newish owner, rental site Le Tote, at an October bankruptcy auction with a bid of $12 million. (The Saadia Group didn t share its plans for Le Tote.)
The firm last year also bought RTW Retailwinds out of bankruptcy for $40 million. Talent from that operation, (which includes New York & Co. and Fashion to Figure), and Saadia s manufacturing, wholesaling and retailing expertise are being leveraged for the Lord & Taylor comeback, according to Nick Kaplan, president of Fashion to Figure and New York & Co.
Savills announced that it represented the Saadia Group in a 40,738 s/f sublease at 275 Madison Avenue.
The New York City based investment firm will leverage the contiguous space as the new headquarters for Lord & Taylor and New York & Company, whose intellectual properties were acquired by the Saadia Group in October of last year. Andrew Zang, an assistant director at Savills, said Jack Saadia, principal and co-founder of the Saadia Group, sought a space for the firm’s recently acquired brands and tapped Savills for a strategic plan that included identifying a location that would allow Lord & Taylor and New York & Company to quickly establish operations while maintaining a New York City presence and accommodating future growth.