Home / Knowledge / News / Fashion / Rue La La taking over Gilt
Rue La La taking over Gilt
09
Jun '18
Rue La La taking over Gilt
Rue La La, an e-commerce destination known for connecting world-class brands with next-generation shoppers, is taking over Gilt, a leading member-based digital shopping business, from Hudson's Bay Company (HBC). The combined company joins two complementary lifestyle brands into a multi-brand growth platform. Both brands will operate independently.

Both brands will retain their unique identities and serve distinct customer segments. In conjunction with this announcement, Rue La La intends to hire more than 150 associates to run the Gilt business in New York, Boston and Kentucky, as well as other sites across the country. The transaction is expected to close in July 2018.

Rue La La and Gilt, operating under the newly formed Rue Gilt Groupe, will leverage an advanced technology platform that combines leading capabilities in mobile and personalisation. With 60 per cent of sales happening on mobile devices, the brands will capitalise on Rue La La's mobile-first approach, offering a seamless customer experience. An excellent vehicle for brands to reach a highly attractive customer base, the Rue Gilt Groupe portfolio will serve over 20 million members with a focus on young, affluent, fashion and brand-conscious consumers. Merchandising scale and efficiencies will benefit both members and brand partners.

"Having achieved record revenues and profits in 2017, Rue La La is poised to further strengthen its leadership position in fashion off-price e-commerce. Through the acquisition of Gilt and our evolution into a multi-brand platform, we are equipped for an acceleration in growth, innovation and profitability," said Mark McWeeny, CEO of Rue La La. "Together with Gilt, Rue La La looks forward to increasing our presence and offering the attainable luxury and best-in-class experience that today's customers demand."

Michael Rubin, executive chairman at Rue La La adds, "This transaction places the Rue Gilt Group in the premier tier of e-commerce growth companies. Our two distinct brands have large, highly engaged customer bases, cutting edge technology and mobile leadership. With enhanced scale and efficiency, we expect our growth trajectory to quickly enable us to surpass $1 billion in total sales." (SV)

Fibre2Fashion News Desk – India


Must ReadView All

Bangladesh, Sri Lanka may sign FTA soon

Apparel/Garments | On 15th Oct 2018

Bangladesh, Sri Lanka may sign FTA soon

Bangladesh may sign a free trade agreement (FTA) with Sri Lanka as...

China pumps $109 bn into economy amid trade war with US

Textiles | On 15th Oct 2018

China pumps $109 bn into economy amid trade war with US

China has decided to cut the reserve requirement ratios (RRRs) by one ...

Global lingerie market expected to reach $55 bn by 2024

Apparel/Garments | On 15th Oct 2018

Global lingerie market expected to reach $55 bn by 2024

Global lingerie market in 2015 was worth $33 billion and is expected...

Interviews View All

Stefan Warnaar, Peak to Plateau

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Yashiki Gumber, Sahiba Fabrics

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Shiladitya K Joshi, Truetzschler India Private Limited

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Deepprakash Agrawal,

Deepprakash Agrawal

Radhey Weaves is a Surat-based manufacturer of brocade fabrics. MD...

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Sugandha Bhardwaj,

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions &amp; Vertriebs Gmbh, founded in 1978 and headquartered ...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

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

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Pranav Mishra, Huemn

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

Leave your Comments


October 2018

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

news category


Related Categories:

Advanced Search