Lord & Taylor is the oldest luxury department store in the United States, headquartered in New York City. It is a subsidiary of the oldest commercial corporation in North America, samuel Lord and George Washington Taylor founded the store in 1826 on Catherine Street in Manhattan selling hosiery, misses wear, and cashmere shawls. By 1861, the store was located on Broadway at Grand Street and their iconic Starrett & van Vleck Fifth Avenue store opened between 38th and 39th streets on February 24,1914. A founding member of Associated Dry Goods, Lord & Taylor was considered to be their crown jewel, when the May Company acquired ADG in 1986, it was assumed that May had bought them just for the division. The Fifth Avenue store became a New York City Landmark in December 2007, as of January 2017, there are 50 full-line stores across the United States, a majority are located in the Northeast Megalopolis. In 1945, Dorothy Shaver became the first woman to head a major retail establishment in the United States as president of Lord & Taylor. As vice president working with the design firm of Raymond Loewy Associates, she opened what is credited as the first ever branch store, in Manhasset. Unlike earlier forays into the suburbs that consisted of smaller boutique-style shops, the store consisted of 66 individual shops. Lord & Taylors relationship with Raymond Loewy Associates continued until 1969, following the construction of the Stamford, Connecticut, many of Lord & Taylors special services, including personal shoppers, were introduced while Shaver presided. During this period she introduced the Andrew Geller hand written logo, william J. Lippincott was elected chairman and chief executive in 1972. A management shakeup ousted him in 1976, the chain partially withdrew from the oil-shocked Texas and southern Florida markets in 1989–1990 after its 1986 acquisition by May. Under May, the majority of the former Hahne & Co, wanamakers, and Woodward & Lothrop locations were rebuilt or refitted for Lord & Taylor. Starting in June 2000, Jane Elfers served as Lord & Taylors second female president and she was replaced in October 2008 by former Neiman Marcus executive, Brendan Hoffman. According to HBC executive chairman, Richard Baker, her contract had expired, a third female president, Bonnie Brooks, took over his position in 2011. A fourth female president, Liz Rodbell, replaced her in 2013, in July 2003, Lord & Taylors leadership sought to highlight the stores contemporary heritage. Some locations have undergone restoration projects, while others were also expanded, additional changes included the transformation of several Lord & Taylor Signature Restaurants into branch locations for Sarabeths Restaurant. Sarabeths opened inside the Fifth Avenue store during the fall of 2008, owner May Department Stores was acquired by Federated Department Stores, now Macys Inc, on August 30,2005. On January 12,2006, Federated chairman, president, in a move that took advantage of valuable real estate, Federated announced on March 10,2006 that seven conflicting Lord & Taylor locations would either close or downscale into Macys
20th Street and Broadway
The company's headquarters and flagship store at 424 Fifth Avenue to be sold to a joint venture of WeWork.