🠈  Talbots  🠊

The Talbots

Talbots is a retailer of upper notch clothing with headquarters in Hingham, Ma. This video shows the corporate headquarters:

Corporate History

This section lists corporate events that took place in the history of Talbots. The rapid growth of the chain took place under the management of General Mills and the Japanese firm ÆON Group.^1,2,3

The company had a popular catalog, but it failed to do well in the Internet age. My guess is that the problem came from tax structures. Talbots charged sales tax in every state that had a store. Amazon.com didn't; So Amazon won.

• 1947: Rudolf and Nancy Talbot inherited a store in Hingham, Ma which they called The Talbots.
• 1948: Talbots bought a mailing list from The New Yorker and launched into catalog sales.
• 1950: Talbots moved into a two story colonial frame house. They put the store in the first floor and offices on the second. The house had a vibrant red door.
• 1973: The Speciality Retail Group of General Mills acquired Talbots which had five stores. General Mills expanded Talbots throughout New England.
• 1988: Jusco Group, a division of Toykyo based ÆON Group, acquired Talbots for $350 million.
• 1989: Talbots expanded to Hong Kong.
• 1989: Talbots introduced Talbots Kids.
• 1991: Talbots launched Talbots Canada.
• 1993: ÆON raised $242 million by selling 33% of Talbots in an IPO on the NYSE with the symbol TLB. They had 313 stores in 44 states.
• 1995: Talbots launched Talbots Babies and Talbots Accessories & Shoes.
• 1997: The company had grown to 600 stores, but sales started to be flat.
• 1998: Company launched Talbots Woman for plus sized women.
• 2001: Talbots had 800 stores.
• 2002: Company launched Talbots Men catalog.
• 2006: Talbots acquired J Jill for about $517 million.
• 2007: Trudy Sullivan became CEO of Talbots
• 2009: A special acquisition company called BPW Acquisition Corp. led by Ms Sullivan acquired ÆON's shares in Talbots. Talbots was down to 580 stores. Aeon exited after years of losses. Talbots closed the men's division and other specialty shops.^6,7
• 2009: Golden Gate Capital acquired J. Jill for $75 million.
• 2010: BPW completed the acquisition of Talbots. BPW changed its name and ticker to Talbots TLB.
• 2011-12: Sycamore Partners, a spin off from Golden Gate, acquired Talbots which had 516 stores for $369 million or $2.75 per share.^4,5,8

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References:

1. Wikipedia - Talbots (Drawn 11/4/2019)
2. Funding Universe - Talbots (Drawn 11/4/2019)
3. Encyclopedia.com - Talbots (Drawn 11/4/2019)
4. PR Newswire - Sycamore Partners Completes Acquisition of Talbots (Drawn 11/4/2019)
5. PE Hub - Golden Gate Spin Off Invests in Talbots (Drawn 11/4/2019)
6. Financial Times - BPW Acquires Talbots (Drawn 11/4/2019)
7. Stamford Advocate - BPW completes Acquisition (Drawn 11/4/2019)
8. BusinessWire - Sycamore Acquires Talbots (Drawn 11/4/2019)

Directory Listings:

• Phoenix Color - Apparel: Talbots
• Colorado Springs Color - Clothing Stores: Talbots
• Denver Color - Apparel: Talbots
• Fort Collins Color - Apparel: Talbots
• Park City, Utah - Clothes: Talbots
• Salt Lake Sites - Apparel: Talbots

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