Headlines

Hudson’s Bay Acquires Gilt Groupe

Online apparel retailer to roll into Saks Off 5th

Published

8 years ago

January 11, 2016

Hudson’s Bay Co. (Toronto), parent company of Saks Fifth Avenue (New York), has acquired discount online apparel retailer Gilt Groupe (New York). The sale was priced at $250 million.

Forbes reports that Hudson’s Bay intends to roll Gilt Groupe into the company’s existing discount chain, Saks Off 5th.

Gilt Groupe has operated on the flash sale model, offering time-limited deals to consumers who are members of the site. The company currently boasts more than 9 million members.

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