Online clothing-rental startup Le Tote recently bought Lord & Taylor, and has ambitious plans to reinvent its business. Welcome to the craziest bet in retail.
Whether or not you have a retail store, you've seen the problem: Storefronts are shuttered on streets nationwide. And when one store closes, others will follow. How do we fix it?
In case the name isn't a big enough giveaway, the only products you'll find in this brick-and-mortar store have a four star or higher rating on Amazon. It's a clever way to fill shoppers with confidence that everything they buy won't disappoint.
