New York & Company
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| Industry | Retail |
| Founded | 1918 |
| Headquarters | 1 W 34th Street, New York (2023) |
Key people | Mark Stocker, President (2023) |
| Products | Women's Apparel & Accessories |
| Parent | ADJHA NY&Co. LLC |
| Website | www |
New York & Company, Inc. (NY&C) operates as an e-commerce retailer specializing in women's workwear and accessories, exclusively offering its merchandise online since 2020.
Founded in 1918 by Samuel A., Joseph J., Michael Lerner, and Harold M. Lane as Lerner Shops in New York City, the company underwent several rebrandings—from Lerner Shops to Lerner New York before adopting the New York & Company name. Its corporate headquarters continue to be located in New York City.
Lerner Shops
Starting with a single storefront in New York City, Lerner Shops rapidly expanded to 23 locations by 1920 and grew to 160 stores across 37 states within ten years. By 1948, the chain operated close to 200 outlets nationwide and experienced substantial revenue increases.
In the 1960s, McCrory Corporation acquired a majority stake and achieved full ownership by 1973. By the late 1970s, Lerner Shops had grown to over 470 stores, reaching nearly 800 locations and $700 million in yearly sales by 1985.
Limited Brands purchased Lerner Stores from Rapid-American Corporation, McCrory’s parent company, for $260 million in 1985. Post-acquisition, Limited Brands’ chairman and CEO Leslie Wexner assumed control of Lerner, executing strategic initiatives such as canceling up to $100 million in outstanding orders to realign the company’s business model. This period marked a significant transformation in corporate strategy and management.
New York & Company
In the early 1990s, Lerner Shops was renamed Lerner New York. By 1993, The Limited Inc. shuttered approximately 100 of over 900 Lerner New York stores to minimize internal brand competition while updating its apparel offerings and launching the New York & Company label. The full transition to New York & Company was completed by the late 1990s.
Limited Brands divested New York & Company to Bear Stearns Merchant Banking in 2002, establishing its independence. The company went public in 2004 and inaugurated a flagship store at Lexington Avenue and 58th Street in New York City. Its online retail platform debuted in 2006.
In 2012, NY&C diversified into beauty with the introduction of NY&C Beauty, featuring fragrances and cosmetics. The following year saw a collaboration with actress Eva Mendes for an exclusive collection.
Throughout the 2010s, the brand expanded its outlet store footprint; by late 2015, outlets accounted for 82 of its 490 stores, with additional conversions planned for early 2016. CEO Gregory Scott’s appearance on Undercover Boss in 2016 underscored leadership efforts during this period.
By 2017, the company operated 466 U.S. locations following several closures. That year included a partnership with Gabrielle Union launching a signature collection and the acquisition of plus-size retailer Fashion to Figure for $1.4 million, broadening its presence in plus-size fashion.
August 2018 marked the opening of its largest flagship—a two-level, 18,000-square-foot store on Chicago’s State Street. In the same month, Kate Hudson was named ambassador for Soho Jeans and introduced her own collection with New York & Company.
RTW Retailwinds, bankruptcy, and acquisition
In September 2018, New York & Co., Inc. underwent a rebranding to become RTW Retailwinds, aiming to broaden its brand portfolio and highlight its commitment to ecommerce. This change was implemented in November, accompanied by a ticker symbol update to RTW on the New York Stock Exchange. During 2019, RTW introduced the Hudson's Happy X Nature line and launched the Uncommon Sense lingerie brand in April; however, it exited the lingerie segment by August. By the end of that year, RTW reported an operating loss approaching $62 million and revealed intentions to shut down 30 stores, including 19 locations under the NY&C banner.
After experiencing a disappointing holiday sales period, RTW was issued a delisting notice from the NYSE in January 2020. The following month, S&P Global Market Intelligence identified RTW among the retailers most at risk of default. The company announced plans for further store closures and a renewed focus on digital sales channels, yet the onset of the COVID-19 pandemic severely undermined its financial stability. In March 2020, RTW appointed a new chief executive officer, closed all physical stores, and furloughed the majority of its sales staff; nonetheless, within weeks, both the CEO and four board members resigned. By May, permanent layoffs affected 190 corporate employees along with 13 district managers.
RTW filed for bankruptcy protection in July 2020 with intentions to close most brick-and-mortar outlets. In August, it reached an agreement to sell assets—including New York & Company, Fashion to Figure, and its rental subscription service—to Sunrise Brands LLC for $20 million. These assets were eventually acquired by Saadia Group following a bankruptcy auction held in September.
Under Saadia Group’s stewardship, New York & Company unveiled its inaugural menswear collection in August 2021. Additionally, Gabrielle Union relaunched her fashion line through NY&C, Lord & Taylor, and Fashion to Figure in September of that year.
By March 2024, Saadia Group had effectively ceased operations after defaulting on a $45 million loan; as a result, creditor White Oak Commercial Finance assumed control over company assets. Presently, New York & Company is managed by ADJHA NY&Co. LLC.
Celebrity advertisements
Prominent figures who have appeared in New York & Company’s advertising campaigns include Eva Longoria, Brooke Shields, Iman, Cindy Crawford, Jennifer Hudson, Maria Menounos, Ellen Pompeo, Patrick Dempsey, Eva Mendes, Gabrielle Union, and Kate Hudson. These celebrity endorsements have significantly bolstered the brand’s recognition and market presence.