By
with contributions from Kellie Ell
 on August 28, 2019

Hudson’s Bay Co. has agreed to sell its Lord & Taylor division to Le Tote Inc., the seven-year-old San Francisco-based fashion rental subscription service, in yet another case of innovative deal-making by the Canadian-based department store retailer.

Under the terms of the agreement, Le Tote will acquire the Lord & Taylor brand and its intellectual property, operate 38 Lord & Taylor stores and Lord & Taylor’s digital channels and take over the inventory. Only five Lord & Taylor stores will be closing.

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