| Type | Public NYSE: ANN, (NYSE) |
|---|---|
| Industry | Retail |
| Founded | 1954 |
| Headquarters | New York City, NY |
| Key people | Ronald Hovsepian (Chairman) Katherine Krill (President, CEO, and Director) Michael Nicholson EVP, CFO, and Treasurer |
| Revenue | US$2.19 Billion (FY 2009)[1] |
| Operating income | US$-370 Million (FY 2009)[1] |
| Net income | US$-334 Million (FY 2009)[1] |
| Total assets | US$960 Million (FY 2009) [2] |
| Total equity | US$417 Million (FY 2009)[2] |
| Website | ANN INC. (corporate) www.anntaylor.com www.loft.com |
ANN INC. (NYSE: ANN) is an American group of specialty apparel retail chain stores for women, headquartered in New York City, (7 Times Square Tower, New York, NY 10036). The stores offer classic styled suits, separates, dresses, shoes and accessories. The brand is marketed under four divisions, Ann Taylor, LOFT, Ann Taylor Factory and LOFT Outlet.
Contents |
Richard Liebeskind, the founder of Ann Taylor, opened his first store in 1954. The first Ann Taylor store (Store 0001) was opened two years later in New Haven, Connecticut. "Ann Taylor" was the name of a best-selling dress at the founder's father's store. Both the best-selling dress and the name "Ann Taylor" were given by the father to his son, Richard Liebeskind [3], for good luck. [4] Liebeskind decided to go with the name Ann Taylor because "Ann" was considered a very New England name, and "Taylor" evoked the image of tailored clothing. The name supposedly created the ideal identity of classic women's apparel.
As of the end of fiscal 2008, Ann Taylor had 935 stores consisting of 320 Ann Taylor stores, 510 LOFT stores, 91 Ann Taylor Factory stores, and 14 LOFT Outlet stores.[5] Total revenue was $2.4 billion, of which $1.09 billion came from the company's Ann Taylor Loft division, $689 million from Ann Taylor, and $417 million from Ann Taylor Factory Store. [6]
Ann Taylor, is a chain of clothing stores for women. Ann Taylor stores compete in the "better" category, with clothing targeted at affluent career women. Ann Taylor was founded in 1954.
LOFT, originally Ann Taylor LOFT, was established in 1996 as an extension of the original Ann Taylor brand, offers more relaxed fashions for work and home, in the "upper moderate" priced category. The selection provided at Loft initially was a more casual replica to that of the regular Ann Taylor, however has developed into its own brand, and now carries a unique style to cater to a new and younger crowd.
Ann Taylor Factory, offers reduced prices, as well as Ann Taylor Factory merchandise. The company is now moving away from Ann Taylor Factory clearance stores and are changing their stores to carry Ann Taylor Factory merchandise.
Ann Taylor LOFT Outlet, offers a LOFT-based Outlet environment, similar to the current Ann Taylor Factory stores, with unique LOFT Outlet merchandise mirrored from popular and best-selling LOFT product. There are currently 36 LOFT Outlet stores throughout the U.S.
Ann Taylor Celebrations, was launched in August 2005, it is a signature collection featuring dresses, wraps, sashes, shoes, and bags. Each piece in the Collection is dyed to match. The Collection can be worn for occasions from wedding parties to black tie and special events. In 2009 this line is continued online only.
Ann Taylor Collections, was launched 2007 and consists of luxury apparel, accessories, and shoes made using Italian made fabrics and yarns. The craftsmanship is of an elevated value and the price point is higher than other pieces.
Ann Taylor Beauty, consisting of fragrance and bath and body products, that were to be available in all Ann Taylor stores beginning late 2007 or early 2008. The Possibilities fragrance was released in November 2007. The body care line consists of body mist, lotion, and body wash, and comes in 6 scents. The scents are Sugar Vanilla Orchid Bloom, Almond Vanilla Warm Fig, Peach Honey Sheer Musk, Orange Nectar Honeysuckle, Silver Tea citrus Flower, and Creamy Blackberry Sandal Wood.
LOFT Maternity was released in Summer 2007 under the motto "Because you have a lot to expect." While at first the LOFT Maternity line included only mid-range sizes, it expanded to include all LOFT sizes (00-18) in Fall 2007. As of Summer 2010, LOFT Maternity operates exclusively online, using the tag line, "Clothes so stylish and comfortable you'll wish you could wear them for more than nine months."
Ann Taylor has two flagship locations:
The Company also has a LOFT flagship store: