Home / Knowledge / News / Apparel/Garments / Hudson's Bay in talks to buy online retailer Gilt
Hudson's Bay in talks to buy online retailer Gilt
19
Dec '15
Canadian retail business group Hudson's Bay Co., which owns Saks Fifth Avenue, is near a deal to buy Gilt for about $250 million, just about one quarter of the $1.1 billion of its valuation price four years ago, the Wall Street Journal (WSJ) has reported.

That sale price would be about a quarter of the reported $1.1 billion value that venture capitalists placed on Gilt in 2011, marking yet another private company valued at $1 billion or more by venture capitalists to falter.

A final deal with Hudson's Bay hasn't yet been reached and talks could still fall apart, with the possibility that another company could outbid Hudson's Bay, which was planning to announce the deal early next year.

Hudson's Bay plans to pair Gilt with its off-price Saks Off 5th brand, according to a source. Plans under consideration include opening Gilt shops inside Saks Off 5th stores. However, HBC plans to leave most of Gilt's management intact.

Gilt was a pioneer of so-called flash sales that bloomed during the recession, producing Rue La La, One Kings Lane and others. Entrepreneur Kevin Ryan created a new model for luxury sales in the spring of 2007 with a website that sold designer duds at deep discounts, mirroring sample sales. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Chinese firm sets up textile-garment chain in Vietnam

Apparel/Garments | On 13th Dec 2017

Chinese firm sets up textile-garment chain in Vietnam

Worldon Vietnam Co. Ltd under the Chinese Shenzhou Group is likely to ...

Courtesy: SATO Global Solutions

Information Technology | On 13th Dec 2017

Sensor networks improve inventory management

Sensor networks like radio frequency identification (RFID) and smart...

CMAI hails review of FTP as 'progressive package'

Apparel/Garments | On 13th Dec 2017

CMAI hails review of FTP as 'progressive package'

The Clothing Manufacturers' Association of India (CMAI) has hailed...

Interviews View All

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search