Online clothing rental to buy Lord & Taylor for $100 million

Online clothing rental to buy Lord & Taylor for $100 million

Lord & Taylor is being sold by Hudson’s Bay to an online clothing-rental startup called Le Tote for $100 million. Lord & Taylor is considered one of the oldest department stores in US. Le Tote will pay Hudson’s Bay C$99.5 million in cash when the deal closes and another C$33.2 million in cash after two years. Hudson’s Bay will have a 25% equity stake and two seats on the company’s board.

Chris
Chris
makkusu
makkusu 5 months

Clothing rental?

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