Lord & Taylor Buys Fortunoff

Lord & Taylor reportedly has received court approval for its purchase of Fortunoff, the famed furnishings and jewelry retailer that filed for Chapter 11 bankruptcy protection in January. Lord & Taylor, owned by hedge fund NRDC Equity Partners, says it wants to make Fortunoff a national chain and open up Fortunoff boutiques in its stores. The Lord & Taylor acquisition comes as bad news for Finlay, the leased-jewelry-department operator that previously ran boutiques in Lord & Taylor. In a statement, the company said it had received notification from Lord & Taylor that its license agreements will not be renewed. It will close 47 Lord & Taylor locations at the end of fiscal 2008. In fiscal 2007, the Lord and Taylor locations generated approximately $44 million in revenue for Finlay, the company said. Finlay did not return a request for comment from JCK.

This content is exclusive to JCK Pro subscribers. Subscribe now to access this and much more with discount code GOPRO21 for $199 for an entire year of access (reg. $249).


Already a JCK Pro? Log in

A JCK Pro subscription is your all-access pass to people and resources on the
cutting edge of the retail jewelry industry, from the industry authority you
know and trust

Learn about the Perks of JCK Pro

Log Out

Are you sure you want to log out?

CancelLog out