Lord & Taylor is getting into the discount retail business.
The Hudson’s Bay Co.-owned department store will introduce an off-price outlet called Find @ Lord & Taylor next month. The concept will target a younger audience and focus on trendy, in-season pieces. The 30,000-sq.-ft. space is set to open in Paramus, N.J.
In addition to clothing and accessories, Find @ Lord & Taylor stores will have a larger assortment of home goods than the parent chain.
“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,” said Hudson’s Bay Co. CEO Jerry Storch. “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.”
The store is a part of the HBC Outlet Division, which also includes Saks Off Fifth.