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Lord & Taylor, America’s oldest department store chain, is returning with an old logo, new owners and a new vision.
The iconic company, which was founded in 1826 and has a long history in fashion, closed its brick and mortar stores in 2021 after years of financial difficulties fueled by the pandemic. Restarting e-commerce also failed.
Now, under new owners Regal Brands Global, which acquired the intellectual property of Lord & Taylor, the store and the brand are looking to regain their top position in the retail industry with a return to the Internet in 2025 and the restoration of its iconic logo – which had been canned under the previous ownership.
A woman takes pictures through the window of the closed Lord & Taylor store on Fifth avenue in Manhattan, New York City on Jan. 3, 2019. (Xinhua/Wang Ying via Getty Images/Getty Images)
DEPARTMENT OF SHOPPING IN KING AND TAYLOR OBITUARY FILES
“We are excited to bring back our beloved brand and are committed to restoring Lord & Taylor’s reputation for superior customer service,” the Lord & Taylor website said. “We will focus on introducing new products under the Lord & Taylor signature brand.”
Regal Brands Global bought the rights to Lord & Taylor’s intellectual property after investment firm Saadia Group withdrew those rights in February after a court found it defaulted on more than $45 million in debts.
Regal Brands Global says it wants to revive the passion of Lord & Taylor and mix it with modernity so that it never goes out of style. Lord & Taylor’s website says it has “been a symbol of beauty and style since its inception.”
Sina Yenel, chief strategy officer at Regal Brands Global, which called ditching the old logo in 2022 “a huge betrayal of the brand” in an interview with Retail Drive.
“I understand going after small customers, but this is not the beginning,” Yenel told the store, referring to the empty logo with the Helvetica font that replaced its long logo. “This is a brand that has been around for 198 years. Lord & Taylor has such a huge profile, across different generations and different cultures.”
The Lord & Taylor logo is seen on the Magnificent Mile in Chicago, Illinois, on January 20, 2005. (John Gress/Bloomberg via Getty Images/Getty Images)
He said the 75-strong sales team is working on a sales strategy based on high style, without being too luxurious and avoiding fast fashion, according to Retail Drive.
The company specializes in a variety of home goods, clothing and footwear.
“Lord & Taylor should be talking about fashion that will last a long time,” says Yenel.
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 worldwide, “along with exciting new products.”
“With a rich history dating back to 1826, Lord & Taylor has set the standard for luxury and sophistication in fashion. Our dedication to excellence is reflected in every product we offer, from timeless creations to contemporary designs. As we move forward, we move forward. continue to honor the past of the product while embracing innovation to meet the evolving needs of our discerning customers.”
There are no immediate plans for stores in sight, although Regal has indicated that it would like to open stores in the future.
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People walk near the Lord & Taylor department store on 5th Avenue in Manhattan on June 6, 2018 in New York City. (Photos by Spencer Platt/Getty/Getty Images)
Its flagship store was the Lord & Taylor Building on Fifth Avenue in New York City, which Amazon bought in 2020 for $978 million. This 11-story building was built in 1914.
In 2020, the store filed for bankruptcy along with its owner, venture-backed fashion rental service Le Tote Inc. Lord & Taylor temporarily closed its 38 brick-and-mortar locations in March 2020 during the pandemic, but continued to operate through online channels during the coronavirus crisis.
That bankruptcy comes 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 first store in 1826 on Catherine Street in what is now Two Bridges, Manhattan.
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