Lord & Taylor

Lord & Taylor
Company type	Private (formerly publicly traded)
Industry	Retail
Founded	1826
Founder	Samuel Lord
Defunct	2020 (physical stores closed)
Fate	Transitioned to primarily online retail; acquired by Saadia Group in 2020
Headquarters	New York City, United States
Area served	United States (formerly)
Key people	Dorothy Shaver (former president), Jane T. Elfers (former president), Brendan Hoffman (former president), Bonnie Brooks (former president), Liz Rodbell (former president)
Products	Apparel, footwear, jewelry, beauty products, fragrances, bedding, home goods
Owner	Saadia Group (since 2020)

Lord & Taylor is a historic American retail brand established in 1826 by Samuel Lord, which operated comprehensive department stores until 2020. During its height in the early 2000s, the company ran 86 stores before shifting to a primarily online retail strategy, adapting to evolving consumer preferences. Its iconic flagship location in Midtown Manhattan was active from 1914 until 2019 and earned the status of a New York City Landmark in 2007.

Over its nearly two centuries of operation, Lord & Taylor was owned by various entities including Associated Dry Goods (1916–1986), The May Department Stores Company (1986–2005), Federated Department Stores (2005–2006), NRDC Equity Partners (2006–2019), and Le Tote (2019–2021). The onset of the COVID-19 pandemic hastened its full transition to an e-commerce model in 2020, representing a major strategic shift.

This evolution positioned Lord & Taylor as a trailblazer embracing contemporary retail dynamics while preserving its legacy of innovation within the sector. Its merchandise assortment features apparel, footwear, jewelry, beauty items, fragrances, bedding, and home goods. The company’s progression underscores its commitment to growth via digital platforms and strategic market leadership amid intense retail competition.

Under the Lord family, 1826–1916

English immigrant entrepreneur Samuel Lord launched a dry goods enterprise in New York City in 1824, officially opening the store that would become Lord & Taylor in 1826 on Catherine Street. In 1834, his wife’s cousin, George Washington Taylor, joined the business partnership, leading to the official naming of the store as Lord & Taylor. Throughout the mid-19th century, the company relocated several times, including a move to Grand and Chrystie Streets in 1854. Leadership roles were assumed by John T. Lord and John S. Lyle as partners.

In 1859, the firm unveiled a second flagship location on Broadway at Grand Street in SoHo—a "five-story marble emporium"—marking its entry into wholesale operations. Samuel Lord retired in 1862 and handed over control to his sons Samuel Jr. and George Washington Taylor Lord.

By 1870, the Broadway store moved uptown to a cast-iron edifice at Broadway and 20th Street within the Ladies' Mile shopping district, outfitted with modern innovations such as steam-powered elevators. Despite challenges during the Panic of 1873, the company secured funding and continued its expansion by opening stores on Fifth Avenue in 1903 and again in 1906. The original downtown Grand Street location remained operational until it was sold in 1901.

The company’s headquarters and flagship store on Fifth Avenue—designed by Starrett & van Vleck—opened between 38th and 39th Streets on February 24, 1914. This facility featured state-of-the-art infrastructure including garages for electric delivery vehicles, conveyor systems for transporting goods and customers, and an on-site power plant—reflecting a strategic commitment to retail innovation. Following this launch, the Broadway store was sold.

In 2007, the Fifth Avenue building received designation as a New York City Landmark. In November 1915, Lord & Taylor announced plans to exit wholesale operations to concentrate solely on retail expansion and increasing market share.

Under Associated Dry Goods, 1916–1986

As one of the original divisions within Associated Dry Goods, Lord & Taylor was considered its premier asset.

In 1945, Dorothy Shaver made history as the first female president leading a major retail company in the United States when she took charge of Lord & Taylor. Partnering with design firm Raymond Loewy Associates, she introduced the nation’s first contemporary suburban branch located in Manhasset, New York, which housed 66 individual boutiques—an innovative retail concept for suburban markets. This collaboration persisted until 1969, ending with the Stamford, Connecticut store designed by Loewy’s Vice President Andrew Geller. Under Shaver’s visionary direction, Lord & Taylor pioneered services such as personal shopping and created lasting brand symbols including the Andrew Geller script logo and the American Beauty Rose. She passed away in 1959.

In 1972, William J. Lippincott assumed the roles of chairman and CEO, spearheading expansion efforts beyond the Northeast into cities like Atlanta, Houston, Dallas, and Illinois. Despite this growth trajectory, he was removed from his position in 1976 amid a leadership restructuring.

Throughout the 1970s under CEO Joseph E. Brooks, Lord & Taylor pursued aggressive expansion into Texas, Illinois, and Michigan. The following decade witnessed accelerated development with eleven new stores launched across South Florida.

Under May Department Stores Company, 1986–2005

Following the acquisition of ADG by the May Company in 1986, the focus centered on its luxury retail segment. By 1990, Lord & Taylor withdrew from regions impacted by the oil downturn, specifically Texas and southern Florida. Under May’s ownership, upscale retailers such as Hahne & Co., Wanamaker's, and Woodward & Lothrop were absorbed and rebranded under the Lord & Taylor name.

In 2000, Jane T. Elfers became the second woman to serve as president of Lord & Taylor. She was succeeded by Brendan Hoffman, previously with Neiman Marcus, in 2008. Leadership transitioned again with Bonnie Brooks assuming presidency in 2011, followed by Liz Rodbell in 2013—each change reflecting strategic efforts to rejuvenate the brand.

Under Federated Department Stores, 2005–2006

When Federated Department Stores acquired May Department Stores in 2005, it set in motion significant changes for Lord & Taylor. On January 12, 2006, Federated CEO Terry Lundgren announced intentions to divest Lord & Taylor by year-end. Consequently, six locations were either sold off or converted into Macy’s outlets. The former flagship store in Center City Philadelphia—originally a Wanamaker's property—was refurbished and reopened as Macy's City Center on August 1, 2006.

Under NRDC Equity Partners, 2006–2008

On June 22, 2006, NRDC Equity Partners, LLC declared its acquisition of Lord & Taylor from Federated for $1.2 billion, finalizing the transaction by October 2006. As stipulated in the sale agreement, Federated continued managing Lord & Taylor’s consumer credit accounts until mid-2007.

Under Hudson's Bay Company, 2008–2019

NRDC Equity Partners expanded its portfolio on July 16, 2008, by purchasing the 338-year-old Hudson's Bay Company (HBC), thereby bringing Lord & Taylor under HBC’s growing global retail umbrella that featured Canadian brands like Hudson's Bay and Home Outfitters, Germany’s Galeria Kaufhof, and the U.S.-based Saks Fifth Avenue.

HBC dedicated $250 million toward store enhancements, including a $150 million refurbishment of the flagship Fifth Avenue location in 2010. Between 2011 and 2014, numerous stores underwent modernization or new outlets opened in strategic markets such as Westchester County, Boca Raton, and Albany. In March 2017, Lord & Taylor collaborated with Brideside.com to introduce an in-store bridal boutique. Additionally, a $12 million renovation of the Fifth Avenue flagship was completed in April 2017.

In October 2017, HBC sold the Fifth Avenue property to WeWork for $850 million and established a joint venture in which Lord & Taylor retained a minority stake. This move was part of a strategic effort to capitalize on high-value real estate amid pressure from activist shareholders. The deal closed in February 2019 for $725 million in cash along with equity interests.

In April 2018, HBC revealed a data breach that compromised approximately five million credit and debit card records from Lord & Taylor and Saks Fifth Avenue customers. The company responded by offering complimentary credit monitoring services and assuring customers they would not be held responsible for unauthorized charges.

By May 2018, Walmart began retailing Lord & Taylor apparel online as part of its initiative to elevate its product assortment and challenge e-commerce competitors. However, by mid-2018, HBC announced plans to shutter up to ten Lord & Taylor locations, including the iconic Fifth Avenue flagship store which officially ceased operations in January 2019.

Under Le Tote, 2019–2020

In August 2019, Le Tote, Inc. entered into a joint venture with HBC to assume operational control of Lord & Taylor for an initial payment of CAD 99.5 million ($75 million), with an additional CAD 33.2 million ($25 million) payable two years later. HBC maintained a 25% ownership interest in the new partnership. Le Tote acquired inventory valued at roughly CAD 284.2 million. The agreement obligated HBC to cover store lease expenses for at least three years, estimated at CAD 77 million ($58 million) annually. The transaction concluded in November 2019, marking Le Tote’s strategic expansion into department store management by blending Lord & Taylor’s retail presence with its apparel rental platform.

Impact of the COVID-19 pandemic

By March 18, 2020, all Lord & Taylor stores were closed following directives from local and state authorities due to the COVID-19 pandemic in the United States. Some locations suffered looting during civil unrest triggered by the murder of George Floyd. The retailer initiated reopening select stores in Florida and New Hampshire on May 15, 2020, with full store operations resuming by July 3, 2020.

On August 2, 2020, Lord & Taylor and its parent company Le Tote filed for Chapter 11 bankruptcy protection citing pandemic-induced difficulties. By August 27, Lord & Taylor announced intentions to close all remaining physical stores after nearly two centuries while soliciting bids for both Le Tote and Lord & Taylor businesses. On October 15, 2020, Saadia Group, LLC acquired Lord & Taylor with plans to reposition it as a digital-first retail brand.

Digital-First Retail Strategy

In October 2020, the investment group Saadia Group took ownership of Lord & Taylor, shifting the company towards a predominantly digital retail approach. By autumn 2022, the brand introduced the "Fall Fete" advertising campaign accompanied by a refreshed logo design. In 2024, Regal Brands Global acquired Lord & Taylor with the objective of advancing its digital transformation while capitalizing on its longstanding market presence. Future initiatives include relaunching a sophisticated physical store concept that aligns with contemporary consumer trends, drawing inspiration from the flagship model employed by Printemps in New York City.

SaksWorks

Revealed in August 2021, SaksWorks represents a collaboration between Saks Fifth Avenue and WeWork, establishing co-working environments tailored for technology startups and corporate clients. SaksWorks is planned to utilize approximately 90% of the former Lord & Taylor retail spaces, with Hudson's Bay Company maintaining ownership of the underlying properties.

External links

Official website