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ANN INC. history
ANN INC. company history timeline
Richard Liebeskind, the founder of Ann Taylor, opened his first Ann Taylor store in New Haven, Connecticut in 1954. "Ann Taylor" was the name of a best-selling dress at Liebeskind's father's store.
1977: Liebskind sells his stores to Garfinckel, Brooks Brothers, Miller Rhodes Corporation.
Describing a 1978 AnnTaylor catalogue, one writer for Working Woman magazine noted that the catalogue showed "a duo of well-dressed working women ganging up on a would-be mugger, hitting him with their AnnTaylor purses.
Describing a 1978 Ann Taylor catalog, one writer for Working Woman magazine noted that the catalog showed “a duo of well-dressed working women ganging up on a would-be mugger, hitting him with their Ann Taylor purses.
1981 Garfinckels was acquired by Allied Retailers.
1983: Sally Frame Kasaks becomes president of the company.
1985: Mark Shulman replaces Kasaks as chief executive officer.
1986 Campeau Corporation took over Allied Corporations and therefore Ann Taylor
The new management decided that the typical Ann Taylor customer of 1990 was not as affluent as its earlier clientele had been, and, in an effort to broaden its appeal and cut expenses, the company began using fabrics of lesser quality for the first time.
In May 1991, the company completed an initial public offering resulting in aggregate net proceeds of approximately $166.5 million.
Then, in December 1991, Joseph E. Brooks abruptly announced his retirement from his position as chairman.
1991: AnnTaylor goes public.
By 1991, Ann Taylor had spread as far from its East Coast roots as Jackson, Mississippi, and now boasted 58 new outlets and a total of 176 stores.
Caminiti, Susan, “How to Win Back Customers,” Fortune, June 14, 1993, p.118.
Quoted in a 1993 issue of Working Woman, Kasaks asserted that “the best way to satisfy Wall Street is to satisfy the customer.”
Power, William, “Soaring Ann Taylor May Need Some Caution as Accessory,” The Wall Street Journal, April 15, 1994.
During the first six months of 1994, same-store sales grew 10.6 percent, while other popular specialty stores, such as The Gap and Nordstrom’s, were reporting gains of less than half that amount.
By early 1995, AnnTaylor was feeling this threat as it was forced to cut prices by 10 to 15 percent.
By early 1995, Ann Taylor’s prices had been cut ten to 15 percent across the board.
Moreover, the company was progressing with its plan for aggressive expansion, calling for 15 new stores in 1995 and the further expansion of existing stores.
In September 1996, in an effort to salvage its ailing principal supplier, AnnTaylor bought Cygne's 60 percent stake in CAT and Cygne's AnnTaylor Woven Division.
In 1997, AnnTaylor invested heavily in advertising for its fall line of clothes, the more conservatively stylish, businesslike attire with which it had made its name.
Sales remained sluggish through most of 1997, when sales for the entire company fell 2.1 percent.
1998: AnnTaylor expands its AnnTaylor Loft Stores.
The company took note of the Loft stores' burgeoning success and by May 2000 AnnTaylor had 70 loft stores throughout the United States, with plans for further expansion.
Even more emphasis was placed on its internet shop when in January 2001 AnnTaylor chose Delano Velocity Marketing to assist with its e-marketing and client relations.
2001: Katherine Lawther Krill is appointed president of Loft Division.
2002: Loft stores rapidly expand; company posts most profitable third quarter in its history.
2003: Kim Roy resigns as president of AnnTaylor Division.
2004: Company moves back office work to Milford, Connecticut; celebrates 50th "ANNiversary."
In March 2011, the company changed its name to Ann Inc., from Ann Taylor Stores Corporation.
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.
2015 Ascena Group acquired Ann Inc. for $2.16 billion
In 2017, Ann Taylor launched a subscription rental service called Infinite Style.
Loft followed up in 2019 with Infinite Loft subscription, a size inclusive subscription business.
"Ann Taylor Stores Corporation ." International Directory of Company Histories. . Retrieved June 21, 2022 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/ann-taylor-stores-corporation
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ANN INC. competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| rag & bone | 2002 | $320.0M | 140 | 155 |
| Perry Ellis International | 1967 | $863.9M | 1,930 | 77 |
| HELMUT LANG | 2006 | $8.9M | 110 | 11 |
| James Perse Ent | 1996 | $80.4M | 50 | 43 |
| J.mclaughlin | - | $1.0M | 15 | 42 |
| Deck The Walls | 1979 | $6.0M | 20 | - |
| Etienne Aigner AG - Official Online Shop | 1965 | $46.6M | 131 | - |
| Foot Solutions | 2000 | $590,000 | 25 | 3 |
| Styles For Less | 1992 | $380.0M | 3,000 | - |
| BCBG MAX AZRIA GROUP | 1989 | $330.0M | 2,904 | 6 |
ANN INC. history FAQs
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ANN INC. may also be known as or be related to ANN, ANN INC, ANN INC., Ann Inc., Ann Inc. (parent Company Of Ann Taylor, Loft & Lou & Grey), Ann Taylor Stores (1954–2011) and Ann, Inc.