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Ann Inc.

From Alfawiki
Ann Inc.
Company typeSubsidiary
IndustryRetail (women's apparel)
Founded1954
FounderRichard Liebeskind
Headquarters
New York City
,
United States
Area served
United States
ProductsWomen's apparel, footwear, accessories
OwnerAscena Retail Group (until 2020); Premium Apparel LLC (since 2020)
ParentPremium Apparel LLC
Websiteanntaylor.com

Overview

Ann Inc. represents a prominent American retailer specializing in women's apparel through a collection of specialty store chains. Headquartered in New York City, the company functions as a subsidiary under the ownership of Ascena Retail Group. Its product range includes timeless suits, mix-and-match separates, dresses, footwear, and various accessories. The brand operates across five distinct divisions: Ann Taylor, Loft, Lou & Grey, Ann Taylor Factory, and Loft Outlet.

File:AnnTaylorLoftSign.JPG
Loft storefront in Hudson, Ohio
File:USA-NYC-Ann Taylor 5th Avenue0.JPG
Ann Taylor location on 5th Avenue, New York City, 2013

History

Richard Liebeskind established the first Ann Taylor store in New Haven, Connecticut in 1954. The brand name "Ann Taylor" originated from a popular dress sold at Liebeskind's father's retail shop. This dress, along with the name Ann Taylor, was entrusted to Richard by his father as a symbol of good fortune. Liebeskind selected the name because Ann was perceived as a quintessentially New England name, while Taylor suggested the concept of finely tailored apparel. Together, the name embodied the essence of timeless women's fashion.

In May 1991, the company successfully launched its initial public offering, generating approximately $166.5 million in net proceeds.

By March 2011, the company rebranded itself from Ann Taylor Stores Corporation to Ann Inc. As of October 27, 2012, the brand operated a total of 981 stores: 278 Ann Taylor locations, 101 Ann Taylor Factory outlets, 510 Loft stores, and 92 Loft Outlet shops. Additionally, their products were available online via AnnTaylor.com and Loft.com.

On May 18, 2015, Ascena Retail Group revealed plans to acquire Ann Inc. for $2.16 billion. The transaction was finalized on August 21, 2015, after which Ann Inc. became a subsidiary under Ascena Retail Group.

In 2017, Ann Taylor introduced Infinite Style, a subscription-based rental service. Following this initiative, Loft launched Infinite Loft in 2019, offering a size-inclusive subscription rental program.

Divisions

Ann Taylor is a modest American retail chain specializing in women's apparel, primarily catering to style-conscious professional women. The brand was established in 1954.

Loft, initially known as Ann Taylor Loft, was launched in 1996 as a subsidiary of Ann Taylor, providing more casual attire suitable for both work and leisure within the "moderate" price range. Originally, Loft's offerings were a laid-back version of Ann Taylor's classic styles; however, it has since evolved into an independent casual lifestyle brand. Additionally, Loft includes a maternity clothing line.[1]

Lou & Grey features comfortable athleisure and activewear-inspired apparel designed for relaxed wear.[2]

File:An Ann Taylor Factory store.jpg
An Ann Taylor Factory retail location

Ann Taylor Factory delivers products influenced by the Ann Taylor brand but produced specifically for the Factory line.

Loft Outlet operates as an outlet format for Loft merchandise, similar to Ann Taylor Factory stores, offering exclusive Loft Outlet items that reflect popular and bestselling Loft styles. There are currently 128 Loft Outlet locations across the United States.

Special collections

Ann Taylor Celebrations, introduced in August 2005, was a signature line featuring coordinated dresses, wraps, sashes, shoes, and handbags. Each item was color-matched for cohesive ensembles suitable for events ranging from weddings to formal occasions. This collection transitioned to an online-only offering in 2009 and was discontinued by 2011.

Ann Taylor Collections, launched in 2007, represented a premium range of apparel, accessories, and footwear crafted from Italian fabrics and yarns. This line emphasized superior craftsmanship with a higher price point than standard offerings but is no longer in production.

Ann Taylor Beauty, which included fragrances and bath and body products, was slated for availability in all Ann Taylor stores starting in late 2007 or early 2008. The Possibilities fragrance debuted in November 2007, accompanied by a body care collection featuring mist, lotion, and wash in six distinct scents. This product range has since been discontinued.

Loft Maternity, introduced in Summer 2007 under the slogan "Because you have a LOFT to expect," initially offered mid-range sizes but expanded in Fall 2007 to cover all Loft sizes from 00 to 18. Since Summer 2010, Loft Maternity has been available exclusively online with the tagline "Clothes so stylish and comfortable you'll wish you could wear them for more than nine months."[1]

Flagship stores

Ann Taylor maintains two flagship outlets:

Additionally, Loft operates a flagship store at:

Bankruptcy of Ascena

On July 23, 2020, Ascena, the parent corporation of Ann Inc., initiated Chapter 11 bankruptcy proceedings, attributing the decision to the financial challenges caused by the COVID-19 pandemic and related closures that "gravely affected" its economic stability. The planned store closures encompassed locations of Ann Taylor, LOFT, Lane Bryant, and Lou & Grey, as well as all outlets across these brands in Canada, Puerto Rico, and Mexico. Additionally, all Catherine Stores and a considerable number of Justice stores were included in the shutdown plan.

Emergence from bankruptcy

Ascena announced on December 23, 2020, that it had finalized the transfer of ownership for the Ann Taylor, LOFT, Lou & Grey, and Lane Bryant brands to Premium Apparel LLC, a subsidiary of private equity firm Sycamore Partners. Premium Apparel confirmed its commitment to maintaining a significant share of the retail locations, employee base, and corporate functions associated with these brands.

See also

References

  1. ↑ 1.0 1.1 Cite error: Invalid <ref> tag; no text was provided for refs named FashionModelDirectory.com
  2. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named Los Angeles Times

External links

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