Lord & Taylor to launch new off-price concept this fall

By

Obi Anyanwu

Published
Oct 26, 2015

Hudson’s Bay Company announced Monday the launch of a new off-price concept for Lord & Taylor named Find @ Lord & Taylor (pronounced Find At Lord and Taylor). The new concept is aimed at a younger demographic and will open its first store in Paramus, New Jersey in November 2015.

Find @ Lord & Taylor stores will average 30,000-square-feet and offer an assortment of women’s, men’s and children’s apparel and footwear at up to 70% off. The off-price concept will also feature an expanded Home selection.
 
“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 joins HBC’s Saks Fifth Avenue OFF 5th off-price concept that offers styles and brands carried at Saks stores at a lesser price. The announcement of the Find concept follows a recent study released by Macy’s that revealed that younger shoppers prefer to find deals when holiday shopping. A study from Harris Poll for Digimarc found similar results, specifically that shoppers between the ages 18 to 34 look for immediate deals when shopping.
 
The first Find off-price store will open just in time for millennial shoppers to grab in-season apparel for less this holiday season. Find @ Lord & Taylor will launch in the Northeastern US and 6 additional stores will open in 2016.