The Opportunity in Le Tote’s Lord & Taylor Acquisition

Back in 2012, friends and entrepreneurs Brett Northart and Rakesh Tondon noticed that both of their significant others were in the habit of getting together with friends and swapping clothes. At the time, Tondon’s wife was pregnant, so these get togethers were of great value for her—any clothes she bought during the pregnancy would be useless down the road, so borrowing was preferable to buying. With this new insight into the behavior of an apparel consumer, Northart and Tondon....

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