(Bloomberg)—Le Tote, the e-commerce clothes rental subscription company that’s buying Lord & Taylor’s operations, is promising the department-store’s clients more brands, new options to consume and “massive changes” to the website.
Le Tote Chief Executive Officer Rakesh Tondon says he wants to integrate the two businesses. That means Lord & Taylor visitors will ultimately have a choice to buy, rent, or join the ranks of subscribers. They’ll also get more curated suggestions from the tech-savvy company when shopping online.
Le Tote regulars will gain access to 500 additional brands as well as categories they currently can’t find on the site, such as cosmetics and shoes. They will be able to pick up their boxes in stores, return some items and make changes to the selection on the spot, according to Tondon.
“We want to give customers the ability to consume the way they want to,” he said in an interview Wednesday.
While it’s become increasingly common for businesses that started online to venture into brick-and-mortar stores, Le Tote’s entry is dramatic. The San Francisco-based start-up with 200 employees will take over 38 stores totaling about 4.5 million square feet when it closes the purchase from Hudson’s Bay Co.
“We’re swinging for the fences,” Tondon said. “We believe we’ve got to aim big and go where the customers are.”
To contact the reporter on this story: Sandrine Rastello in Montreal at [email protected].
To contact the editor responsible for this story: David Scanlan at [email protected]
© 2019 Bloomberg L.P.