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- Le Tote is an online women's clothing rental business in the United States which uses a subscription box model. It was founded in 2012 by Brett Northart (now President) and Rakesh Tondon (now CEO). In 2019, Le Tote acquired Lord & Taylor. Le Tote is one of several companies renting women's clothes; competitors include Rent the Runway, The Ms. Collection, Gwynnie Bee, and Armarium. While Rent the Runway focuses more on high-end, "event-driven" clothes, Le Tote mainly rents "everyday wear." In late August 2019, Le Tote finalized an agreement with Hudson's Bay Company to buy the Lord & Taylor chain for C$99.5 million in cash on closing (probably before year end 2019) plus C$33.2 million two years later. HBC was to get a 25% equity stake in Le Tote. The buyer would retain the stores' inventory, with an estimated value of C$284.2 million. The deal required HBC to pay the stores' rent for at least three years, at an estimated C$77 million cash per year. On August 2, 2020, Le Tote and subsidiary of Le Tote, Lord & Taylor filed for Chapter 11 bankruptcy protection citing the COVID-19 pandemic. They were purchased by the investment firm Saadia Group on October 20, 2020. (en)
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- 5868 (xsd:nonNegativeInteger)
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- Brett Northart (en)
- Rakesh Tondon (en)
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- File:Le Tote logo.png (en)
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- Le Tote is an online women's clothing rental business in the United States which uses a subscription box model. It was founded in 2012 by Brett Northart (now President) and Rakesh Tondon (now CEO). In 2019, Le Tote acquired Lord & Taylor. Le Tote is one of several companies renting women's clothes; competitors include Rent the Runway, The Ms. Collection, Gwynnie Bee, and Armarium. While Rent the Runway focuses more on high-end, "event-driven" clothes, Le Tote mainly rents "everyday wear." (en)
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