New York City Lord & Taylor is thinking about opening stores outside the country, possibly in Mexico and Canada, according an article in the New York Times.
Chairman Richard A. Baker, the head of NRDC Equity Partners, the private equity firm that owns Lord & Taylor, said he expects the chain to thrive in foreign countries given its focus on American designers such as Joseph Abboud and Charles Nolan.
“We are thinking about growth outside the U.S.,” Baker said on Tuesday at a conference held by Emanuel Weintraub Associates, a retail-consulting firm. Besides Canada and Mexico, he identified Asia as the most likely markets.
While no foreign store openings are imminent, Baker has recently been traveling to Mexico and Canada, the report said. It also noted that a foreign venture would be the latest chapter in Lord & Taylor’s turnaround over the last decade.