Nostalgic Retail Series #35 - LORD & TAYLOR
Founded in New York City in 1826 by Samuel Lord and George Gilman, Lord & Taylor was originally opened as a dry goods store in 1824 on Broadway 9the name became Lord & Taylor in 1826). Little did they know, this modest beginning would grow into one of America’s oldest and most respected department store chains.
The Midtown Manhattan Flagship: In 1914, Lord & Taylor opened its iconic flagship store on Fifth Avenue, which became a NYC landmark. The store’s elegant design and broad merchandise offerings made it a shopping destination for generations.
Under leaders like Dorothy Shaver (the first woman to head a major retailer in the U.S.) in the 1940s, Lord & Taylor embraced modern retail practices, including better customer service, advertising, and expanding into suburban markets.
The brand expanded to include many suburban locations, capitalizing on America's post-war economic boom and became a staple in American retail culture.
Lord & Taylor transitioned through ownership by various conglomerates, including Associated Dry Goods and May Department Stores (which acquired Associated Dry Good in 1986), which helped finance expansion and modernization efforts. Federated Department Stores, next on the acquisition train, acquired May Department Stores in 2005 and in 2006 announced closures/downscaling to Macy's of six location.
Acquired by NRDC Equity Partners, LLC in 2006 for $1.2 billion, Lord & Taylor was positioned under the Hudson Bay Company in 2008 and went through years of growth and the upgrading of stores.
In the late 2010s, Lord & Taylor faced declining sales and store closures, including its historic flagship in 2019. The company was acquired by Le Tote in 2019, a rental fashion company, which aimed to modernize but struggled to sustain the business.
The global pandemic in 2020 forced the closure of all physical stores, accelerating Lord & Taylor's decline. Bankruptcy filings followed in August, 2020, with all stores closing (after almost 200 years in operation).
A New Beginning?
In October 2020, the investment firm Saadia Group acquired Lord & Taylor; they transformed the retailer into a digital-first format
In 2024, Regal Brands Global acquired Lord & Taylor, with plans to revitalize the brand primarily through digital retail. Long-term plans announced included the return of physical stores with a similar strategy to that of Printemps, but this remains to be seen.
As of now, the brand exists digitally at https://lordandtaylor.com/
