Okay, so, today I wanna talk about something that got me really curious – those fancy department stores, Lord & Taylor and Saks Fifth Avenue. I mean, these names have been around forever, right? So I decided to dig in and see what their deal is.
First off, I started with Lord & Taylor. Turns out, this place is like the granddaddy of department stores in the US. We’re talking way back to 1826! That’s some serious history. But here’s the kicker – they went bankrupt in 2020 and closed all their stores. Bummer, right? I found out they got a new owner though, some company called Regal Brands Global. Maybe they’ll bring it back to its former glory?
Then, I moved on to Saks Fifth Avenue. This one’s a bit different. It started as Saks & Company and later became known as Saks Fifth Avenue, that sounds fancy, right? I found out that it’s actually a chain of luxury department stores, kind of like the high-end version of your regular department store. They started way back in 1867 in Washington D.C., and their headquarters are now in New York City. And it seems they are still going strong as a top spot for luxury fashion.
But here’s where it gets interesting. Apparently, Saks Fifth Avenue and Lord & Taylor used to be under the same company, called Saks, Inc. I guess they were like sister stores or something. But then, things got shaken up.
- Diving Deeper into Saks Fifth Avenue
So, I wanted to know more about Saks Fifth Avenue. Turns out, they’re also related to this discount store chain called Saks OFF 5TH. It’s like their outlet store where you can find designer stuff for less. I’m all about that! Anyway, I learned that Saks Fifth Avenue was sold for a whopping $2.4 billion to this Canadian company, Hudson’s Bay. That’s a lot of money!
- Connecting the Dots
Okay, so here’s what I figured out. Hudson’s Bay also owns Lord & Taylor (or at least they did before the bankruptcy). They’re like a big department store operator, with stores in the US and Canada. It’s all kind of connected, you know? And then there’s this other company, Le Tote, which is a clothing rental service. They bought Lord & Taylor a while back. It’s a bit of a head-scratcher, a rental service buying a department store? But hey, times are changing.
- Wrapping It Up
So, that’s what I found out about Lord & Taylor and Saks Fifth Avenue. It’s a whole lot of history, buyouts, and changes in the retail world. It’s kind of wild to think about how these stores have evolved over the years. One’s a luxury giant, and the other’s trying to make a comeback. It’ll be interesting to see what happens next, especially with Lord & Taylor’s new owner. Who knows, maybe they’ll surprise us all!