- Le Tote is acquiring Lord & Taylor for $100 million from Hudson’s Bay. The deal will give Hudson’s Bay an equity stake in Le Tote, two seats on Le Tote’s board, retain ownership of its Lord & Taylor real estate, and the option to redevelop these locations starting in 2021.
Enjoy, the e-commerce start up led by Ron Johnson, has raised $150M in Series C funding. The capital is meant to help the firm expand into the U.K. with British mobile network partner EE, aiming to reach 80% of U.K. households by 2020. The company aims to offer same-day delivery of electronic products with high quality personal service. Ron Johnson formerly held leadership positions at J.C. Penney, Apple, and Target.
Source: Hudson’s Bay to sell Lord & Taylor for $100 million to clothing rental service Le Tote | CNBC
Source: Ron Johnson’s e-commerce startup Enjoy raises $150M, expands in UK | TechCrunch
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 