Under Hudson's Bay Company, 2008–2019
On July 16, 2008, NRDC Equity Partners announced that it had purchased the 338-year-old Hudson's Bay Company (HBC) for an undisclosed price and positioned Lord & Taylor as a subsidiary under HBC.
The combined HBC, as of February 2017, consisted of Lord & Taylor and Saks Fifth Avenue in the United States, the online luxury fashion retailer Gilt, Hudson's Bay and Home Outfitters in Canada, and Galeria Kaufhof in Germany.[41][42]
The Fifth Avenue flagship store received a $150 million ($ in ) update in 2010.[43] In 2011, an ultra-modern concept store opened in Westchester County at the new Ridge Hill Mall. During this time, locations such as Manhasset, Garden City, Bala Cynwyd, Eastchester, and Stamford all saw ultra-modern style renovations and upgrades. In 2012, a large outpost opened at The Mall at Rockingham Park. In 2013, a contemporary-style outpost opened at Mizner Park in Boca Raton, Florida. In 2014, a contemporary outpost, modeled after the Boca Raton location, opened at Crossgates Mall near Albany, NY. Around this time, a store was announced to open alongside Saks Fifth Avenue in the luxury wing of the American Dream Mall.
In 2015, Lord & Taylor launched Design Lab, a line of apparel for women aged 18 to 35. The advertising campaign, which concentrated on a single dress, made extensive use of social media, including a paid article in Nylon and posts on Instagram by fashion influencers who were paid for their posts and had received the dress for free.[44][45] The advertised dress sold out, however the campaign was investigated by the Federal Trade Commission (FTC). In 2016, Lord & Taylor agreed to a settlement with the FTC which stated that it is "prohibited from misrepresenting paid ads as independent editorial content, and it must clearly disclose when fashion influencers have received some form of compensation for their endorsement".[46]
In October 2017, after an attempt made to build a skyscraper above the Fifth Avenue store, it was announced the building would be sold in a joint venture to WeWork for $850 million ($ in ). WeWork was set to occupy the uppermost floors of the building, with the rest remaining a newly updated flagship for Lord & Taylor.[47] In February 2019, the sale completed for $725 million ($ in ) in cash and the remainder in equity, forming a joint venture with Lord & Taylor as a non-controlling interest. Analysts linked the decision to growing pressure from activist investors and a strategic push to monetize real estate assets.[48][49]
In May 2018, Walmart began offering Lord & Taylor fashions on its website as part of an effort to modernize its brand and appeal to a more upscale customer base.[50][51][52]
