A year and a half after relaunching as a digital-only retailer, the country’s oldest department store, Lord & Taylor, is adding a retail media network to its online offering.
Developed in partnership with InMobi, Lord & Taylor’s new digital advertising platform joins a growing slate of retail media networks designed to aid product discovery for customers and offer additional monetization solutions for retailers. Brands and agencies now have access to a full-funnel retail media platform to reach Lord & Taylor customers through sponsored product ads and shoppable video ads.
After owner Le Tote went bankrupt in 2020, investment firm Saadia Group acquired the Lord & Taylor store inventory, intellectual property and ecommerce assets. In April 2021, the brand relaunched as an online-only retailer and has since made a series of moves to become a go-to brand for “obtainable luxury,” including expansion of its online offerings into men’s and children’s apparel, homewares, accessories, travel and beauty.
“Lord & Taylor has been a trusted retailer for nearly 200 years, providing obtainable luxury to our community through a highly curated selection of brands,” said Mark Stocker, President of Lord & Taylor in a statement. “Over the past year, our focus has expanded to reimagine and reinvigorate the digital shopping experience for our customers.”
“InMobi Commerce’s retail media platform plays an integral role in our efforts to digitize our brand and create an elevated, engaging online shopping experience by helping customers discover new products and brands while unlocking additional ecommerce revenue,” added Sebastien Lesage, SVP of Marketing at Lord & Taylor in a statement.