Ann Inc.

Ann Inc.
Subsidiary
Industry Retail
Founded 1954
Founder Richard Liebeskind
Headquarters Times Square Tower,
New York City, New York, U.S.
Key people
 Ronald Hovsepian (Chairman)
Katherine Krill (President, CEO, and Director)
Michael Nicholson EVP, CFO, COO, and Treasurer
Revenue Decrease US$248.8 Million (2Q 2014)[1]
Decrease US$54.9 Million (2Q 2014)[1]
Decrease US$32.7 Million (2Q 2014)[1]
Total assets Decrease US$998.842 Million (2Q 2014) [1]
Total equity Increase US$474.618 Million (2Q 2014)[1]
Number of employees
 19,900 (Jan 2012) [2]
Parent Ascena Retail Group
Website Ann Inc. (corporate)
www.anntaylor.com
www.loft.com
LOFT's sign in Hudson, Ohio
5th Avenue, NYC, 2013

Ann Inc. is an American group of specialty apparel retail chain stores for women. The company headquartered in New York City and operates as a subsidiary of Ascena Retail Group. The stores offer classic styled suits, separates, dresses, shoes and accessories. The brand is marketed under five divisions: Ann Taylor, LOFT, Lou & Grey,[3] Ann Taylor Factory and LOFT Outlet.

History

Richard Liebeskind, the founder of Ann Taylor, opened his first Ann Taylor store in New Haven, Connecticut in 1954.[4][5] "Ann Taylor" was the name of a best-selling dress at Liebskind's father's store. Both the best-selling dress and the name Ann Taylor were given by the father to his son, Richard Liebeskind,[6] for good luck.[7] 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.

In May 1991, the company completed an initial public offering resulting in aggregate net proceeds of approximately $166.5 million.[4]

In March 2011, the company changed its name to Ann Inc., from AnnTaylor Stores Corporation.[8] As of October 27, 2012, the total store count was 981: of 278 Ann Taylor stores, 101 Ann Taylor Factory stores, 510 LOFT stores, and 92 LOFT Outlet stores, as well as online at AnnTaylor.com and LOFT.com.[9]

On May 18, 2015 Ascena Retail Group announced a $2.16 billion acquisition of Ann Inc.[10] The buyout was completed on August 21, 2015. Ann Inc. will operate as an Ascena Retail Group subsidiary going forward.[11]

Divisions

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.

Lou & Grey sells active-wear fashion.[3]

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 128 LOFT Outlet stores throughout the U.S.

Special Collections

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 began being offered 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 LOFT 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."

Flagship stores

Ann Taylor has two flagship locations

The Company also has a LOFT flagship store:

References

  1. 1 2 3 4 5 "ANN INC. Reports Second Quarter 2014 Results". investor.anninc.com. Retrieved Aug 22, 2014.
  2. ↑ "Ann Taylor, Form 10-K, Annual Report, Filing Date Mar 9, 2012" (PDF). secdatabase.com. Retrieved Jan 11, 2013.
  3. 1 2 Moore, Booth. "New Ann Taylor brand Lou & Grey taps into active-wear fashion trend". Los Angeles Times. Retrieved 2 December 2015.
  4. 1 2 "Ann Taylor, Form 10-K, Annual Report, Filing Date Mar 31, 1994". secdatabase.com. Retrieved Jan 11, 2013.
  5. ↑ "Ann Taylor About Us". anninc.com. Retrieved Jan 11, 2013.
  6. ↑ "ANN INC. Careers". anntaylorcareers.com. Retrieved 28 May 2015.
  7. ↑ "Ann Taylor Profile - NYJobSource.com". nyjobsource.com. Retrieved 28 May 2015.
  8. ↑ "Ann Taylor, Form 8-K, Current Report, Filing Date Mar 16, 2011". secdatabase.com. Retrieved Jan 11, 2013.
  9. ↑ "Ann Taylor, Form 8-K, Current Report, Filing Date Nov 28, 2012". secdatabase.com. Retrieved Jan 11, 2013.
  10. ↑ "Ascena Buying Ann Taylor Parent For $2.16 Billion". Forbes. May 18, 2015. Retrieved August 25, 2015.
  11. ↑ "Ascena Retail Group completes approximately $2 billion acquisition of Ann". Fox Business. August 21, 2015. Retrieved August 25, 2015.

External links

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