DISCUSSION TOPIC: Lord & Taylor Buys Fortunoff
Famed New York City jeweler and home furnishings retailer, Fortunoff, last week agreed to be bought by the owners of Lord & Taylor. The sale to NRDC Equity Partners LLC is expected to close in early March, subject to bankruptcy court approval and other conditions.
Plans call for the opening of branded Fortunoff jewelry departments as well as home and bridal registry areas in L&T’s 47 stores – including a 100,000-square-foot Fortunoff home furnishing department and smaller Fortunoff jewelry department within the flagship at 39th Street and Fifth Avenue in Manhattan. The New York Times said this could make L&T a bigger competitive threat to Bloomingdale’s and Nordstrom.
Discussion questions: How would you rate the merger between Lord & Taylor and Fortunoff? What do you think of the plans to introduce Fortunoff departments in L&T and to reposition Fortunoff more as an upscale retailer?
As a long-time admirer of Fortunoff, and a recent admirer of the amazing ascension of L&T under the current ownership, I am thrilled with the merger. Fortunoff has phenomenal talent in place for Baker, Elfers, et al to partner with. The combined talent pool will be able to execute this merger effectively and I predict a rare 1+1=3 result. I’m looking forward to shopping at L&T on my next trip to New York!
Mike Osorio, your Dare to be Contagious! ™ strategist www.OsorioGroup.com
GO TO THE FULL DISCUSSION AT RETAILWIRE.COM:
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