'Lord & Taylor' announced plans to launch a series of smaller stores that will offer major discounts on designer clothing. With the holidays on the way, many people are looking for a way to stretch their budget. These new boutiques will allow consumers to grab high-end items for a fraction of the retail price.
The designer off-shoot will be called 'Find @ Lord & Taylor' and it will offer in-season styles at up to 70 percent off the original retail price. The first store will be open in November and then six more are set to open in the near future. The store will be similar to outlets such as 'Nordstrom Rack,' which also offer major discounts on designer clothing. The new store is ultimately designed to target a different demographic of shoppers who are looking for a way to save on high-quality items.
The new off-price boutique demonstrates that brands are trying to accommodate consumer demands for more affordable clothing options.