The Hudson’s Bay Company is launching Find @ Lord & Taylor, a new off-price concept catering to a younger demographic with on-trend, in-season product at prices up to 70% off those offered in its sister department store.
The first store will debut in Paramus, NJ, in November 2015, and the company reported that it planned to open six additional northeastern Find stores in 2016.
Find stores will average 30,000 square feet, according to the retailer. Unlike other HBC Outlets, Find @ Lord & Taylor will offer an expanded home selection in addition to apparel, the company noted.
“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 Jerry Storch, Hudson’s Bay CEO. “We see significant opportunity for expansion and remain committed to investing in this sector through new store openings and developments. We believe Find @ Lord & Taylor will be a great entry point to introduce the Lord & Taylor brand to new consumers.”
Jonathan Greller, HBC president of outlets, added, “We believe we have the right mix of compelling pricepoints, new locations and easy-to-shop store formats to target a new demographic of shoppers. Our goal is to offer our consumers an exciting merchandise mix at impressive prices.”
Find @ Lord & Taylor is part of HBC’s outlet division, along with Saks Fifth Avenue Off 5th.