Hudson’s Bay Company Announces New Off-Price Concept with launch of Find @ Lord & Taylor
First Location Debuts November 2015 in New Jersey
Five Additional Openings Planned for 2016
NEW YORK, NY (October 26, 2015)— Hudson’s Bay Company announced today the launch of Find @ Lord & Taylor, a new off-price concept catering to a younger demographic and delivering on-trend, in-season product at amazing prices. Opening its first store in Paramus, New Jersey in November 2015, Find @ Lord & Taylor will launch in the Northeastern United States, with six additional store openings planned for 2016.
“Off-price continues to be a key driver of HBC’s growth strategy, and we are thrilled to expand this business with the introduction of our newest concept,” stated Jerry Storch, CEO, Hudson’s Bay Company. “We see significant opportunity for expansion and remain committed to investing in this sector through new store opening and developments. We believe Find @ Lord & Taylor will be a great entry point to introduce the Lord & Taylor brand to new consumers.”
Find @ Lord & Taylor stores will average 30,000 square feet, offering a compelling assortment of women’s, men’s, and kids’ apparel and footwear, with a fun, easy-to-shop experience. Unlike other HBC Outlets, Find @ Lord & Taylor will also offer an expanded Home selection. By combining the best in brands with outstanding value, shoppers will enjoy fresh and distinct apparel and home fashion offerings from leading brands at savings of up to 70% off.
“We believe we have the right mix of compelling price points, new locations and easy-to-shop store formats to target a new demographic of shoppers,” said Jonathan Greller, President of Outlets, Hudson’s Bay Company. “Our goal is to offer our consumers an exciting merchandise mix at impressive prices.”
Find @ Lord & Taylor is part of HBC’s Outlet Division, along with Saks Fifth Avenue OFF 5TH. For more information, visit findlt.com.
About Hudson’s Bay Company
Hudson’s Bay Company is one of the fastest-growing department store retailers in the world, based on its successful formula of driving the performance of high quality stores and their all-channel offerings, unlocking the value of real estate holdings and growing through acquisitions. Founded in 1670, HBC is the oldest company in North America. With the recent completion of its acquisition of GALERIA Kaufhof Group, HBC’s portfolio today includes eight banners, in formats ranging from luxury to better department stores to off price, with more than 460 stores and 65,000 employees around the world.
In North America, HBC’s leading banners include Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue and Saks OFF 5TH, along with Find @ Lord & Taylor and Home Outfitters. In Europe, its banners include GALERIA Kaufhof, the largest department store group in Germany, Belgium’s only department store group Galeria INNO, as well as Sportarena.
HBC has significant investments in real estate joint ventures. It has partnered with Simon Property Group Inc. in HBS Global Properties Joint Venture, which owns properties in the United States and Germany. In Canada, it has partnered with RioCan Real Estate Investment Trust in the RioCan-HBC Joint Venture.