We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Mar 29, 20243:45pm

Hudson’s Bay sells Lord&Taylor for 100 million to a clothing rental subscription company

Le Tote, a clothing rental subscription company, has reached an agreement with the Canadian department stores to buy its chain, on sale since last May.

Aug 28, 2019 — 5:17pm
Mds
Save

Hudson’s Bay sells Lord&Taylor for 100 million to a clothing rental subscription company

 

 

Clothing rental subscription business takes a new turn. The company Le Tote, specialized in providing its users with monthly boxes of items that can be returned after used, reached an agreement with the Canadian department stores Hudson’s Bay to buy its chain Lord&Taylor for 100 million dollars.

 

The agreement rises to 75 million dollars and the commitment of another 25 million in two years. Besides that, Hudson’s Bay will enter the capital of Le Tote and will take two chairs in its board of directors and rights as a minority shareholder.

 

Lord&Taylor, that Hudson’s Bay placed up sale last May, closed its fiscal year 2018 with a revenue of 1.4 billion dollars. Through this agreement, Le Tote takes the brand, including its intellectual property, its digital channels, its stocks and the 38 stores of the company.

 

 

 

 

Despites closing its flagship store in Fifth Avenue in New York, Lord&Taylor still supports in the popularity of the brand, particularly its gowns.

 

Le Tote, founded in 2012, supports its business model in a system of monthly boxes of items that can be returned after used, and cost between 69 and 119 dollars per month. The company works with brands like Nike, Free People, Calvin Klein, Kenneth Cole, Kate Spade or French Connection amongst others. 

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...