|Headquarters||New York, NY, United States|
Number of locations
|50,+4 L&T outlets|
|Products||Clothing, footwear, jewelry, beauty products, fragrances, electronics, bedding and housewares|
|Owner||NRDC Equity Partners|
|Parent||Hudson's Bay Company|
|Subsidiaries||Find @ Lord & Taylor|
Lord & Taylor is the oldest luxury department store in the United States, headquartered in New York City. It is a subsidiary of the oldest commercial corporation in North America, the Hudson's Bay Company.
Lord & Taylor today consists of 50 'flagship' and 'destination' locations, the Lord & Taylor website which ships internationally, four L&T factory outlets; as well as Find @ Lord & Taylor, their off-price store.
Samuel Lord and George Washington Taylor founded the store in 1826 on Catherine Street in Manhattan selling hosiery, misses' wear, and cashmere shawls. By 1861, the store was located on Broadway at Grand Street, and in 1870 moved to a new cast-iron building at Broadway and 20th Street in the area known as the "Ladies' Mile".
Their iconic Starrett & van Vleck Fifth Avenue store and headquarters opened between 38th and 39th streets on February 24, 1914. A founding member of Associated Dry Goods, Lord & Taylor was considered to be their "crown jewel". When the May Company acquired ADG in 1986, it was assumed that May bought them just for the division. The Fifth Avenue store became a New York City Landmark in December 2007. As of January 2017, there are 50 full-line Lord & Taylor stores across the United States, a majority are located in the Northeast Megalopolis.
In 1945, Dorothy Shaver became the first woman to head a major retail establishment in the United States as president of Lord & Taylor. As vice president working with the well-known design firm of Raymond Loewy Associates, she opened what is credited as the first ever branch store, in Manhasset, New York. Unlike earlier forays into the suburbs that consisted of smaller boutique-style shops, this was a merchandising effort that became the model for modern suburban shopping. The store consisted of 66 individual shops. Lord & Taylor's relationship with Raymond Loewy Associates continued until 1969, following the construction of the Stamford, Connecticut, store (designed by Loewy Vice President Andrew Geller).
Many of Lord & Taylor's special services, including personal shoppers, were introduced while Shaver presided. During this period she introduced the Andrew Geller hand written logo and the American Beauty Rose as icons of the store. Shaver died in 1959.
William J. Lippincott was elected chairman and chief executive in 1972. His obituary in The New York Times read: "In his years as president and chairman, Lord & Taylor moved beyond its traditional territory in the northeast to open stores in Atlanta, Houston and Dallas and four stores in Illinois." A management shakeup ousted him in 1976. Under the leadership of CEO Joseph E. Brooks during the 1970s, the company aggressively expanded into Texas, Illinois and Michigan; in the early 1980s, South Florida saw 11 stores opened in quick succession. The chain partially withdrew from the oil-shocked Texas and southern Florida markets in 1989–1990 after its 1986 acquisition by May. Under May, the majority of the former Hahne & Co., Wanamaker's, and Woodward & Lothrop locations were refitted for Lord & Taylor.
Starting in June 2000, Jane Elfers served as Lord & Taylor's second female president. She was replaced in October 2008 by former Neiman Marcus executive, Brendan Hoffman. According to HBC executive chairman, Richard Baker, her contract had expired. A third female president, Bonnie Brooks, took over his position in 2011. A fourth female president, Liz Rodbell, replaced her in 2013.
In July 2003, Lord & Taylor's leadership sought to highlight the stores contemporary heritage. Many existing locations underwent full renovations while others were also expanded. Additional changes included the transformation of several Lord & Taylor Signature Restaurant's into branches for Sarabeth's. Sarabeth's Restaurant opened inside the Fifth Avenue store during the fall of 2008.
Owner May Department Stores was acquired by Federated Department Stores, now Macy's Inc, on August 30, 2005. On January 12, 2006, Federated chairman, president, and CEO Terry Lundgren announced that Lord & Taylor would be sold by the end of the year. In a move that took advantage of valuable real estate, Federated announced on March 10, 2006 that seven conflicting Lord & Taylor locations would either close or downscale into Macy's. (Christiana Mall, Delaware; Water Tower Place, Illinois; Northshore Mall, Massachusetts; Fairlane Town Center, Michigan; West County Center and St. Louis Galleria, Missouri; and Center City, Philadelphia, Pennsylvania.) The legendary Center City, Philadelphia store, former flagship of the John Wanamaker chain, opened after a one-month renovation as Macy's City Center on August 1, 2006. On June 22, 2006, it was announced that NRDC Equity Partners, LLC would purchase Lord & Taylor for $1.2 billion after Federated had converted and closed the seven locations they previously announced, the sale was completed in October 2006. Federated continued to service Lord & Taylor consumer credit accounts in an agreement with NRDC, under the terms of its sale until mid-2007. In addition to continuing the campaign announced by May in 2003, NRDC committed to spend an additional $250 million upgrading stores. Lord & Taylor reported a large jump in sales after most of May's former stores took on the Macy's and Bloomingdale's nameplates in 2006. The Fifth Avenue store received a $150 million update in 2010.
On July 16, 2008, NRDC Equity Partners announced that they had purchased the 338-year-old Canadian business group, The Hudson's Bay Company, for an undisclosed price with the intention of expanding internationally. HBC operates nearly 600 stores under four banners from coast to coast. The Hudson's Bay store in Toronto is the largest store in Canada at nearly 1,000,000 square feet (93,000 m2) making it also one of the largest stores in the world. The combined company today consists of Lord & Taylor, Saks Fifth Avenue, Hudson's Bay and Home Outfitters in Canada, German department store Galeria Kaufhof, and lifestyle E-commerce website Gilt.
 Women's Wear Daily reported in September 2010 that sources within the company were searching for additional space in Westchester County. The Scarsdale location is a moderately high performer but does not allow space for significant expansion. In December 2010, Lord & Taylor announced they would open a second 'destination' store in Westchester County at Westchester's Ridge Hill. The location was designed by architect Giorgio Borruso. The store had it's opening on April 13, 2012, and brought the total number of full-line locations to 48. Another store was announced for the Boston Metropolitan area, to be located in Salem, New Hampshire at the Mall at Rockingham Park. The store opened in March 2012, and became the 47th location. In October 2011, a store was announced for Mizner Park, in Boca Raton, Florida. The location was completed in fall 2013 and brought the total number of full-line stores to 49. In August 2013, a new location for New York's Capital District was announced to open at the Crossgates Mall. That store was completed in September 2014, and became the 50th full-line location. During the summer of 2018, Lord & Taylor will open their 51st full-line store at the American Dream Meadowlands project in Bergen County, New Jersey.
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