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Respected Contributor
Posts: 3,587
Registered: ‎03-10-2010

Lord & Taylor Notice

I received an email stating they are now partnered with Le Tote a rental subscription service.  Does this mean they will now be renting clothing, accessories etc..? 

Valued Contributor
Posts: 547
Registered: ‎02-08-2016

Re: Lord & Taylor Notice

@Pecky Good question. I'm surprised they sold it for 75 million.I would've thought higher. Hm..

Trusted Contributor
Posts: 1,929
Registered: ‎05-09-2016

Re: Lord & Taylor Notice

[ Edited ]

It's $75 million cash now, another $25 million in two years, and HBC will retain a shareholder stake in Le Tote.

 

https://www.usatoday.com/story/money/2019/08/28/lord-and-taylor-sold-le-tote-100-million/2139886001/...

~The more someone needs to brag about how wonderful, special, successful, wealthy or important they are, the greater the likelihood that it isn't true. ~

Honored Contributor
Posts: 9,062
Registered: ‎01-06-2015

Re: Lord & Taylor Notice

Many stores are starting rental services. Banana Republic, Macys are two I can recall.

"I carry your heart, I carry it in my heart"
Honored Contributor
Posts: 8,808
Registered: ‎04-16-2010

Re: Lord & Taylor Notice

I received the notice and at first, thought they had been bought out by Le Tote. They've partnered with them.

 

If you go to the L&T site, there is a place that you click to shop a "new way". It offers you the ability to customize your favorite accessories, request specific items, have them shop for you to pull together a complete outfit/wardrobe based on what you specify. Le Tote has only been around for 6  years or so....all about e commerce and accessorizing a persons' look.

 

We'll see how long this lasts.

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Valued Contributor
Posts: 600
Registered: ‎07-16-2012

Re: Lord & Taylor Notice

I saw a piece on the Today Show about a service called Rent the Runway. They showed the process returned clothing goes through before it is rented again. There was a woman sniffing the clothing before it went to dry cleaning. I wish QVC would do this! I’ve received several items that reeked of perfume or body odor over the years.