I have to admit, I used to be a fan of Loehmann’s until I moved to Chicago. The stores here are not up to par in my opinion. However, the new 35,000-square-foot Loehmann’s store on Broadway (between 73rd and 74th Streets) will hopefully be better.
"The contemporary, junior and casual business
has been our fastest-growing area for the last five years," said Robert Friedman, Loehmann’s chief executive officer in an interview with WWD.
This marks a change
for the off-pricer, whose average customer a decade ago was 55 years
old. In the last five years Loehmann’s has made a concerted effort to
attract younger consumers. "Today the average age is 35," said
Friedman of the companies 62 U.S. locations.
storewide range from 35 – 65%. Loehmann’s,
which is in an expansion mode, will open seven stores this year. In
addition to the Broadway venue, a 25,000-square-foot unit was unveiled
last week on Route 17 in Paramus, N.J., the company’s third store
there. Loehmann’s is opening in Miami this spring and on State Street
in Chicago in the fall.
"We’re not looking to have 200 stores," Friedman said. "We want to
preserve the business model of opening in affluent and densely
populated areas. We may top out at 100 or 120 stores. If we open more,
we’ll look like the other guys and then we lose our edge. Ours is a
niche business and we want to stay a niche business."
Read the entire article: Loehmann’s Opens on Broadway by Sharon Edelson