“For years, off price retailer Loehmann’s struggled with bankruptcy, before finally closing its doors in February.
Loehmann’s name and intellectual properties — including its customer list — were acquired by hedge fund Esopus Creek Value Series Fund LP in bankruptcy court. Now, Esopus has brought on brand development and advisory firm CAK Entertainment Inc to give Loehmann’s a second life.
CAK Entertainment Inc will revamp the nameplate and relaunch Loehmann’s in May as an online-only retailer. Charles Koppelman, founder of CAK Entertainment, tells WWD that it will carry the same brands as before. He also vaguely adds that they will take advantage of “emerging forms of media,” like social media, for customer outreach.
“Research tells us the younger customer shops online,” Koppelman tells WWD. “They want to have a dialogue with brands about what they want to see and what brands they want. We are going to talk to them, helping with the product and brand selection. They will tell us what they want and help us with our buying.
Currently, the Loehmann’s site is just a shell; under CAK Entertainment Inc, it will relaunch at a new web address.
Outlets are currently experiencing a period of regrowth, with both Nordstrom and Saks Fifth Avenue re-investing in their respective off-price concepts, Nordstrom Rack and Off Fifth.” – Via Fashionista
