Home / Knowledge / News / Apparel/Garments / Apparel retailer Loehmann's lands credit deal with GE Capital
Apparel retailer Loehmann's lands credit deal with GE Capital
22
Dec '09
Loehmann's announced that GE Capital, Corporate Retail Finance, will supply a $35 million asset-based credit facility for the retail chain. GE Capital, Corporate Retail Finance will be the sole lender for the facility.
Loehmann's has transformed its business in the past 18 months by uniquely positioning itself at the high end of the off-price industry, as the IT Store for designer fashions featuring the most exclusive designers and brands at prices 30 to 65% less than department and upscale specialty stores.

“Our customers have bought in to the new approach at Loehmann's, voting with their dollars when they come into our stores. Whether we are featuring U.S. or European designers, our shoppers know they will not find such high quality goods in any other store at our amazingly low prices. This credit facility ensures we will be able to continue to offer the fashion-forward designer clothes and accessories that define Loehmann's as the premiere upscale off-price retailer,” said Jerry Politzer, Chief Executive Officer of Loehmann's.

Loehmann's, the IT store for designer fashions, plans to open a new store in California in early 2010, strengthening its position in the critically important Los Angeles market. Additionally, Loehmann's has successfully re-launched their fee based loyalty shopping program this past year, the Loehmann's Insider Club, which offers customers even greater value every time they shop for clothes and accessories.

“Finding the right lender is critical for retail outlets,” said Jim Hogan, managing director of GE Capital, Corporate Retail Finance. “In all of our relationships, we strive to provide retailers with smarter liquidity, with a thorough understanding of client needs and passion for finding the right solution.”

Loehmann's was advised by North Sea Partners.

Loehmann's Holdings

Must ReadView All

Textiles | On 20th Feb 2017

UK textile & apparel exports up 7.05% in 2016: UKFT

The exports of apparel and textiles from the UK have increased by...

Textiles | On 20th Feb 2017

Himatsingka Seide incorporates subsidiary in Europe

Himatsingka Seide Ltd, one of the largest producers of home textiles...

Courtesy: Green Initiatives

Apparel/Garments | On 20th Feb 2017

Green Initiatives launches Re:Form to end textile waste

Green Initiatives, a non-government institution, has launched...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search