Lord & Taylor
known as L&T
, or LT
, based in New York City
, is the oldest upscale, specialty-retail department store
chain in the United States
. Concentrated in the eastern U.S., the retailer operated independently for nearly a century prior to joining American Dry Goods (later renamed Associated Dry Goods Corp.
). Today, Lord & Taylor is the sole surviving department store nameplate from Associated, as well as from May Department Stores
. Lord & Taylor is wholly owned and operated by NRDC Equity Partners
. NRDC bought the chain from Federated Department Stores
in October 2006 as Federated sought to concentrate on the Macy's
chain after their purchase of May Department Stores (with all May department store nameplates having been converted to Macy's), and because the Lord & Taylor brand conflicted with Federated's Macy's
Following its acquisition of Lord & Taylor, NRDC Equity Partners has since acquired Hudson's Bay Company
in Canada. In 2008, NRDC's portfolio of retail companies became components of a new multinational limited partnership, Hudson's Bay Trading Company
Lord & Taylor consists of 46 stores and .
Samuel Lord, an immigrant to the United States from England
and George Washington Taylor, his wife's cousin, founded the store in 1826 on Catherine......