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Another women’s clothier, Bebe, also filed for bankruptcy and closed all of its stores to focus on selling online. On Feb. 24, 2017, the private equity firm Sycamore Partners announced it had purchased the Limited’s brand and website, through a competitive auction as part of the bankruptcy proceedings. Sycamore relaunched the brand’s website last fall – sans stores – and promised to communicate with the Limited’s loyal customers about how introduction of online shopping to obtain the merchandise “they know and love.” Sycamore, which specializes in consumer and retail investments, partners “with management teams to improve the operating profitability and strategic value of their businesses,” the company mission states. The firm’s investment portfolio now includes Belk, Coldwater Creek, Dollar Express, EMP Merchandising, Hot Topic, MGF Sourcing, Nine West Holdings, Talbots, and Torrid. In fact, Limited merchandise is also available on belk.com or in Belk stores. Limited.com is still in its first quarter of operation strictly as a web retailer. No sales figures are available and Sycamore, as a privately held company, declined comment on how the brand’s online conversion has fared. The value retailer Austin5 took over the space formerly occupied by the Limited at Oxford Valley Mall, Last weekend shoppers walked past the new tenant.. The idea of going exclusively digital runs counter to the strategy of some successful online retailers, such as the eyewear maven Warby Parker and the menswear retailers Bonobos and Tommy John, which are opening stores. But analysts say the online-only approach will likely continue due to the high costs of rent and staff and the decline in mall traffic.
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