Loehmann's is a chain of off-price department stores in the United States.
Loehmann's
is best known for its world-famous Back Room, where fashion-conscious
women can find their favorite designers at prices that are always 30% to
65% lower than department or specialty stores. In recent years, Loehmann's has
expanded its offerings to include shoes and accessories, juniors, fragrances,
gifts and intimate apparel. In addition, over 50 of its stores now include complete
men's departments.
In 1921, Frieda Loehmann, a former department
store buyer, opened her first 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. Loehmann refused to expand her stores beyond Brooklyn and the Bronx. Soon
after her death in 1962, the company went public and began to expand to a wider
area.
Loehmann's was acquired by Associated Dry Goods in 1983.
In 1986, May Department Stores merged with Associated Dry Goods. Two years later,
the new May Department Stores Co. 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. |
