Loehmann's
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| Private | |
| Industry | Online Retail |
| Founded | 1921 |
| Defunct | 2014 (brick and mortar) |
| Headquarters | Bronx, New York |
| Products | Clothing, footwear, bedding, furniture, jewelry, beauty products, housewares |
| Owner | Esopus Creek |
| Website | www.loehmanns.com |
Loehmann's is an online fashion retailer. It started as a single store in Brooklyn, New York and grew to a chain of off-price department stores in the United States. The chain was best known for its "Back Room", where women interested in fashion can find designer clothes at prices lower than in department stores. While the largest portion of its client base was historically women, the chain also offered shoes, accessories, and men's clothing.
Loehmann's filed for bankruptcy in December 2013 and liquidation sales began January 8, 2014. Once the merchandise was liquidated, all stores were closed and Esopus Creek, the private equity fund which had bought the rights to the Loehmann's name, continued to operate the company as an online retailer.
In 1921, Frieda Loehmann, a former department store buyer, and her son Charles, opened the first Loehmann's store in a former automobile showroom on the northwest corner of Bedford Avenue and Sterling Place in Brooklyn, New York. She bought seasonal overstocks from top New York designers and sold them at bargain prices. Freida refused to expand into additional stores, but her son opened a second store, also called Loehmann's, on Fordham Road in the Bronx in 1930, using the same sales strategy. Frieda continued to run the original store, buying the building and moving into living quarters above it.
Soon after her death in 1962, the Bedford Avenue store was closed, and the Charles C. Loehmann company went public and began to expand to a wider area.
Loehmann's was acquired by Associated Dry Goods in 1983. In 1986, The May Department Stores Company merged with Associated Dry Goods. Two years later, May Department Stores Company sold the 77-unit chain to an investor group led by a Spanish concern, Sefinco Ltd., and the Sprout Group, a division of Donaldson, Lufkin & Jenrette.
The company was taken public again in May 1996.
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Wikipedia