Ann Taylor, Chico’s Seek Buyers to Overhaul Aging Brands
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With Ann Taylor and Chico's FAS Inc. fielding takeover offers, would-be buyers have to decide whether aging brands can adapt to a culture where women are dressing younger than ever. ANN Inc., Chico's and other chains that have long catered to older professional women haven't built as much rapport with millennial shoppers, who don't want to shop at the same stores as their moms, said Liz Dunn, CEO of consulting firm Talmage Advisors. Even women approaching middle age are wary of retailers that are perceived as old, she said.