Lord & Taylor in talks to buy Fortunoff

Lord & Taylor in talks to buy Fortunoff

There are 24 comments on the Newsday story from Jan 31, 2008, titled Lord & Taylor in talks to buy Fortunoff. In it, Newsday reports that:

Lord & Taylor, the venerable New York City retailer, is in talks aimed at acquiring Fortunoff, a Long Island institution that has been struggling in the last few years, a source close to the matter said ...

Join the discussion below, or Read more at Newsday.

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LIer

Hicksville, NY

#2 Jan 31, 2008
Might be a good fit. My suggestion would be to retreat back to Westbury and get back to their roots, ie, high end products at reasonable prices, classy sales help,(no gum chewing teenagers talking on their cellphones while trying to ring you up). But, what do I know?
LIer

Hicksville, NY

#3 Jan 31, 2008
Sounds like a plan.
rob

AOL

#4 Jan 31, 2008
Some of us have spent more than half of our lives at Fortunoff. Belief in what they stood for is why people stayed loyal and devoted. My heart goes out to the family who had to make a very difficult choice. Let's hope that what Max and Clara built from nothing stays as the icon it is.
Anne

AOL

#5 Jan 31, 2008
Sure will miss Furtunoff's. Perhapes, Lord and Taylor can do something novel and maintain the store as it is.
Anne

AOL

#6 Jan 31, 2008
Fortunoff's. Well, WCBS-FM is back on the air, so, maybe this is a new trend for New York to maintain what actually works instead of what doesn't work and distroying our history.
acc

Brooklyn, NY

#7 Jan 31, 2008
Hopefully Fortunoff's will not be lost as it remains a unique store with useful and tasteful products at reasonable prices. Still miss B. Altman's.

Since: Aug 07

Lexington, NC

#8 Jan 31, 2008
The last time I visited Fortunoff's in Westbury was almost 20 years ago and it was like taking a field trip to someplace exotic and exciting - tons of different departments with merchandise ranging from affordable to totally untouchable. What they call "streamlining" is nothing more than sacrificing customer service for quick, easy profits to pad the bottom line without regard for the long-term effect on customer loyalty - typical myopic Wall Street mentality with the self-fulfilling prophecy of bankruptcy. Lose the customers, lose the store guys!
BeBe Raboser

Tenafly, NJ

#9 Jan 31, 2008
What put the family in financial trouble was the building of the white plains blttoed elephant where saks went out. Dumping way too much money into rebuilding that facility as an ego booster was just really bad business. Everyone knew it was a bad idea. But the family thought otherwise. I think Max is turning over in his grave.
Joe

Rockville Centre, NY

#10 Jan 31, 2008
I am shocked to hear that lord & Taylor is going to buy Fortunoff
PR_Flack_In_Trai ning

United States

#11 Jan 31, 2008
Niche stores don't scale well. There is something quirky and special about the family atmosphere. Investors come in and think they can expand it, but that's not true.

Even Starbucks, not a direct comparable but with some similarities, is pulling back now. In stores, the sales help has a lot to do with the "customer experience" but I will not be politically incorrect here. This is a very difficult part of expanding beyond family companies. Any buyer ought to ask the question about whether something could scale, or be franchised, in essence. The product suffers greatly, you alienate customers. I keep thinking about Hermans Sporting Goods- a three generation family store that became a joke when a conglomerate bought it and expanded it right into bankruptcy. An old guy with a hexxent is a much more effective salesperson than the alternatives.

With some luck, the new buyers will keep it as a very niche upper end product line- sort of like hotel chains or cruise ship owners can segregate very high end brands. And, if they don't, the family can buy it back for pennies on the dollar in a few years.
Beware

Bayonne, NJ

#12 Jan 31, 2008
Fortunoff has not kept up the times, younger people Find Pottery Barn and others like C & B hipper places to shop. Blame the invetment firms that take over family businesses and bleed them dry. Its all about the Greenbacks.
Guess What

Bayside, NY

#13 Jan 31, 2008
Beware wrote:
Fortunoff has not kept up the times, younger people Find Pottery Barn and others like C & B hipper places to shop. Blame the invetment firms that take over family businesses and bleed them dry. Its all about the Greenbacks.
...and just who do you think is trying to BUY Fortunoff's?
BINGO!, An investment company einstein.
aycarumba

Freeport, NY

#15 Jan 31, 2008
acc wrote:
Still miss B. Altman's.
I thought I was the only one-- every year my grandmother took me there for my Easter shoes when I was a kid, fond memories

Since: Jul 07

Monroe, NY

#16 Jan 31, 2008
Poor Fortunoff's - over 80 years of success and a poor decision to sell sends all their hard work down the drain.
Beware

Bayonne, NJ

#17 Feb 1, 2008
Guess What wrote:
<quoted text>
...and just who do you think is trying to BUY Fortunoff's?
BINGO!, An investment company einstein.
Who purchased 75% of the company years ago and put it into the situation today."Investment Firm"!!!, Not the Fortunoff Family.
Beware

Bayonne, NJ

#18 Feb 1, 2008
Heen wrote:
Poor Fortunoff's - over 80 years of success and a poor decision to sell sends all their hard work down the drain.
Poor fortunoff does not apply, the family has millions, Poor suppliers and customers are really the ones should get some pity.$$$$$
Beware

Bayonne, NJ

#19 Feb 1, 2008
Guess What wrote:
<quoted text>
...and just who do you think is trying to BUY Fortunoff's?
BINGO!, An investment company einstein.
Hey Mr Einstein read this,After the Manhattan-based Trimaran Capital Partners and The Kier Group took control, officials talked about streamlining Fortunoff's broad inventory while retaining its classic style and appealing to a younger customer. But Cohen said that the "streamlining" strategy may have worked against the chain, because limiting the assortment of merchandise may have diminished the unique experience associated with Fortunoff
Through the Looking Glass

Brooklyn, NY

#20 Feb 1, 2008
Lord and Taylor is poorly run and managed in my opinion. In the last few years I have stopped shopping there because of the non-existent sales help. There is no one to help when you are looking for a specific item or you have to interrupt sales people from chatting rather than serving customers to get rung up. Lord and Taylor no longer values their customers.

Too bad Fortunoff's will now sink to that level.
Knowledgeable guy

Carol Stream, IL

#21 Feb 1, 2008
Joel Kier --who bought the company in 2004 -- turns all the retailers he touches into mud. He's run other folks into the ground like San Francisco Music Box and The Museum company. That fortunoff is in trouble is no great surprise.
BonWit

Chesterfield, MO

#22 Feb 1, 2008
Why would Lord and Taylor want to sully its name?

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