Saadia Group, which purchased the rights to Lord & Taylor from bankrupt Le Tote Inc., now has plans to re-launch the iconic retailer’s e-commerce site next month.
Following their bankruptcy last year, Le Tote Inc., sold Lord & Taylor in a bankruptcy auction to Saadia Group for $12M. The deal saw Saadia Group gain their intellectual property and e-commerce assets and shortly after this, purchased the rights to the brand.
Jack Saadia, Principal and Co-Founder of the Saadia Group, commented: “Lord & Taylor has a deep retail history that spans 195 years, and a tradition of innovation and countless fashion firsts. We are excited to build the future of the brand, expand the loyal community, and show the world what’s next.”
The re-launch of the e-commerce site is all set to launch next month, following Saadia Group assembling a full team to work on Lord & Taylor, including merchants, IT works and operations and finance executives. The company is also currently interviewing for a President.
