Talbots

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Talbots Inc.
Type Private
Industry Fashion
Founded Hingham, Massachusetts(1947)
Headquarters Hingham, Massachusetts, United States
Number of locations 517 (February 2012)[1]
Key people Mike Archbold (CEO/CFO)
Lizanne Kindler (President)
Michele Mandell (COO)
Owner(s) Sycamore Partners
Employees 8,500
Website [1] - Shopping TalbotsInc.com– corporate information
Talbots in Hudson, Ohio

Talbots is an American retailer and direct marketer of women’s classic clothing, shoes and accessories. Established in 1947, the company sells items such as the blazer, trench, white shirt, ballet flats, and pearls.

In June 2009, the company announced the sale of the J. Jill brand business to Golden Gate Capital, which it had acquired in 2006. In August 2009, the company announced it had entered an agreement with Li & Fung to become the exclusive global sourcing agent for Talbots brand apparel. In August 2012, Talbots was acquired by Sycamore Partners, a private equity firm specializing in consumer and retail investments.

At the end of fiscal 2011, the company operated 517 Talbots brand stores throughout the U.S. (in 46 states) and Canada. The company's retail operation comprises approximately 80 percent of its overall business, with catalog and Internet sharing the balance. Online sales represent more than 70 percent of the direct business.

Talbots employs approximately 8,500 associates throughout the U.S. and Canada.

Contents

History [edit]

In 1947 the husband and wife team of Rudolf and Nancy Talbot opened their first shop in Hingham, Massachusetts, United States, a town not far from Boston. In 1948, Rudy and Nancy launched their direct mail business by distributing 3,000 black-and-white fliers to names obtained from The New Yorker magazine. With a growing catalog enterprise and five stores in upscale outskirts like Hingham, Duxbury and Lenox, they sold the company to General Mills in 1973. Expansion ensued up and down the East Coast, but when General Mills divested its Specialty Retail Division in 1988, Talbots was acquired by JUSCO Co Ltd. (now ÆON Co Ltd.). Talbots became a public company in 1993 and was traded on the New York Stock Exchange under the symbol TLB. The private equity firm Sycamore Partners acquired Talbots in August 2012.[2]

Core business [edit]

The company’s core business encompasses its Talbots (Misses) line, as well as Talbots Petites, Talbots Woman and Woman’s Petites. The company also offers fashion accessories and shoes.

Additionally, Talbots operates Upscale Outlet and Clearance stores. Introduced in 2009, the Upscale Outlet stores feature specially designed merchandise at great values. Clearance stores offfer Talbots merchandise from previous seasons at reduced prices.

Retail stores [edit]

Locations vary in size but occupy approximately 5,500 square feet (510 m2) on average.

Catalog [edit]

In 2011, the company distributed 15 Talbots brand catalogs reaching a worldwide circulation of over 41 million.

Web [edit]

With an established fulfillment and distribution system in place, Talbots entered the world of e-commerce in 1999. Its website offers a number of services, including: MyTalbots, which allows customers to register for benefits and customize their online shopping experience; Style by Design appointment shopping; Pearls of Wisdom, offering fashion advice and customers’ style stories; and a Find in Store feature, which enables customers to locate and reserve merchandise in any Talbots store.

Talbots Scholarship Foundation [edit]

Since its inception in 1997, the Talbots Women's Scholarship Fund has awarded $1.6 million to more than 600 deserving women ranging in age from their late 20s to 60s.[citation needed]. The program awarded $200,000 in college scholarships for the 2012 academic year, including 17 $10,000 scholarships and one $30,000 Nancy Talbot Scholarship Award, presented in memory of the founder of Talbots.

Associate Award of Excellence [edit]

The Talbots Charitable Foundation offers a scholarship program for the children of Talbots associates.

Both the Talbots Women's Scholarship Fund and Associate Award of Excellence are sponsored by the Talbots Charitable Foundation and administered by Scholarship America.

References [edit]

  1. ^ http://phx.corporate-ir.net/phoenix.zhtml?c=65681&p=irol-newsArticle&ID=1571383
  2. ^ Primack, Dan (2012-08-07). "Private equity deals: August 7, 2012". Finance.fortune.cnn.com. Retrieved 2012-08-15. 

External links [edit]

Retrieved from "http://en.wikipedia.org/w/index.php?title=Talbots&oldid=546560830"