Word: loehmann
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Though her parents often squirmed with worry and her husband occasionally shook his head in disbelief, Jenn Ripley has proved with her Atlanta-based store, Luxe, that you can profit from doing what large retailers like Loehmann's do: sell clothing from such designers as Gucci, Marc Jacobs and Stella McCartney at a discount...
Robert N. Friedman, CEO of discount retailer Loehmann's, has no such defense, at least according to a lawsuit filed by Forty Three Apparel, a New York City-based women's-fashion maker. In mid-1997, the suit contends, Friedman pressured Forty Three Apparel president Mark Singer, who depended on Loehmann's for 80% of his business, into giving Friedman's wife Debbie a high-level job. Within a year, she left the firm, allegedly with clothing patterns and manufacturing processes, and started her own competing outfit. (Loehmann's says the suit has no merit.) It didn't take long...
Forget Filene's Basement, forget Loehmann's. The ultimate in off-price shopping last week was to be found in Peachland, N.C. There, under the open sky, lay some 120 tons of used clothing at a price buyers could not refuse: free...
...Loehmann's rigorously no-frills outlets carry no shoes or lingerie. Credit cards are not accepted, nor are returns. Salespeople provide little service. Dressing areas are communal, mirrored rooms with harsh lighting, places of pandemonium on weekends. Women enter, check modesty at the door, and frantically try on designer fashions with no labels but with thinly disguised codes on price tags: RL is Ralph Lauren, GEB Geoffrey Beene, BLA Bill Blass...
Prices usually run 33% to 50% under those at traditional retailers for accessories, skirts and dresses, right on up to discounted sable coats for $25,000. Loehmann's was sold in 1980 to a group of private investors for $68 million, in cash, of course, and then in May of this year to Associated Dry Goods for $96 million, again in cash. Associated's new ownership of Loehmann's amounts to a princess's consorting with a shopgirl; its other properties include New York's Lord & Taylor, one of the most dressed-up stores...