Lord & Taylor to Return as eCommerce Site and Partner of Other Retailers
Regal Brands Global reportedly plans to relaunch department store brand Lord & Taylor as a discount luxury eCommerce platform.
The new online-only store will be introduced in 2025 and will sell products sourced from distributors and licensed manufacturers, Retail TouchPoints reported Tuesday (Dec. 10), citing a paywalled article by Business of Fashion.
The brand also aims to place its Lord & Taylor products in the physical stores of other luxury retailers, rather than operating its own locations, according to the report.
Lord & Taylor closed its physical stores in 2020; relaunched as a digital-only retailer in April 2021; and added a retail media network in December 2022, the report said.
Previous owner Saadia Group sold the Lord & Taylor intellectual property to Regal Brands Global in September, per the report.
Lord & Taylor began mulling its bankruptcy filing in April 2020 when the COVID lockdown hurt nonessential retail, PYMNTS reported at the time.
The company filed for bankruptcy in August 2020 as it became evident that its pandemic-fueled turnaround effort failed to generate enough revenue or promise for a future profit.
At the time, Lord & Taylor had 38 stores and was known for upscale fashions and tourist-worthy holiday window decorations. It was also the oldest U.S. department store, having been founded in 1826.
The Saadia Group rolled out Lord & Taylor as an online “collective store” in April 2021, promising exclusive collaborations and products, first-class service and events.
Regal Brands Global, which describes itself on its website as the custodian of the Lord & Taylor brand, says on its site: “As a leader in the licensing world, we specialize in bringing timeless elegance and modern sophistication to the forefront of fashion. Our team, with extensive experience in fashion, textiles, retail and more, is dedicated to preserving the heritage of Lord & Taylor while innovating for the future.”
This news comes at a time when the luxury goods market is witnessing a trend toward strategic collaborations, PYMNTS reported in October. In the face of the challenges being experienced in the sector, industry players are doubling down on collaboration to fortify their position.
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