Word: stores
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Dates: during 2000-2009
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...with yellow socks to match. These days the real estate developer, art collector and former chef is having fun with fashion. As CEO of NRDC Equity Partners?the private-equity firm that bought Lord & Taylor?Baker is the proud new owner since October of America's oldest department store. And he's overseeing a makeover as bold as his brightly colored tie. To prove his dedication to the turnaround, he and his wife have made a pact to buy almost all their clothes from the retailer, and everything he is wearing except the tie ("I had clothes before I bought...
...when department-store popularity is declining?as shoppers opt for selective, less-time-consuming specialty stores or fashion discounters?Baker has made it his mission to reinvigorate the 181-year-old chain by keeping it small: he will downsize the New York City flagship store and continue with a tightly edited merchandise mix tailored to East Coast suburban families at all the stores. Jane Elfers, Lord & Taylor's CEO for the past seven years, has been quietly restructuring the brand away from the store your grandmother loves into a showcase for top American design talent. And the business-savvy Baker...
...Fashion Designers of America (CFDA) asking for advice and partnerships. He recently started a new company called Creative Design Studios that will own all of Lord & Taylor's proprietary brands and invest heavily in up-and-coming American designers, like Cynthia Steffe, regardless of whether they sell to his store. He has become a major underwriter of the CFDA Vogue Fashion Fund, which mentors and financially assists young talent. Seventy new vendors, who had not shipped to Lord & Taylor in the past, are now in the store, as Baker repositions the brand along the lines of a Bloomingdale...
Steffe is on board as is designer Charles Nolan, who will re-energize the store's proprietary Kate Hill brand. Bryan Bradley of Tuleh, who is creating an exclusive Lord & Taylor line, will play up the chain's history. His collection will feature $30 rock-concert-style T shirts with sayings and imagery lifted from the store's archives (think Lord & Taylor's red rose and an art director's wit circa 1954). Upscale chiffon dresses, sweaters and blouses in the $70 to $280 range are also part of the classic yet sexy and modern line. "Lord & Taylor is what...
...instead of forward. Both candidates have pointed out that of the main three Democratic contenders, Senators Clinton, Obama and John Edwards of North Carolina, who all are vying for the nation’s top executive office, not one has run so much as a “corner store.” Apparently, they can’t say enough about the Democrats...