Le Tote completed its acquisition of Lord + Taylor from HBC for $100m.

Le Tote, a fashion rental subscription service, completed its acquisition of Lord + Taylor, a luxury department store in the United States, from The Hudson's Bay Company, a Canadian retail business group, for $100m. “We’re excited to have reached an agreement with Le Tote that creates a new model for Lord + Taylor, bringing together fashion rental subscriptions with traditional retail. Following an extensive review of strategic alternatives, Le Tote’s leadership and innovative approach is the best path forward for Lord + Taylor, its loyal customers and dedicated associates. For HBC, this transaction builds upon our previous bold actions, further enabling us to focus on our greatest opportunities, Saks Fifth Avenue and Hudson’s Bay.” Helena Foulkes, HBC CEO.