It was a sad day earlier this year when news broke that Loehmann’s, home to cheap designer goods for over 90 years, filed for bankruptcy for the third time. Unlike the previous two filings, this time stores were closed, employees fired and assets sold off. We thought we saw the last of the retail mainstay in February, but much to our delight we were wrong. The hedge fund that bought what was left of Loehmann’s just announced that they’ll be launching a brand new Loehmann’s website–next month!
Details about the new site are still a bit fuzzy, but here’s what we do know:
1. It will still be focused on highly discounted brands.
2. It will feature many of the same brands as before, but also incorporate younger brands targeting the “Millennial consumer.”
3. It will leverage “emerging forms of media,” probably Facebook, Twiter, Instagram, Pinterest, etc.
According to the man tasked with bringing Loehmann’s back from the grave, the main goal is reach younger customers. “Research tells us the younger customer shops online. They want to have a dialogue with brands about what they want to see and what brands they want. They will tell us what they want and help us with our buying,” he says. Will it work? Only time will tell.