Gilt Groupe news and archive

HBC purchasing Gilt

Last month, FashionUnited reported that Saks's parent company Hudson's Bay Company was in talks to purchase flash sales site company Gilt Groupe Inc. It seems like the talking is over, because on Thursday, January 7, WWD reported that HBC has purchased Gilt Groupe Inc. for an estimated 250 million dollars in cash. The deal is expected to close...

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Business

HBC purchasing Gilt

Last month, FashionUnited reported that Saks's parent company Hudson's Bay Company was in talks to purchase flash sales site company Gilt Groupe Inc. It seems like the talking is over, because on Thursday, January 7, WWD reported that HBC has purchased Gilt Groupe Inc. for an estimated 250 million dollars in cash. The deal is expected to close...

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BusinessFeatured

HBC in talks to acquire Gilt Groupe Inc.

Gilt Groupe Inc. is currently in talks to be sold to Hudson's Bay Co., the parent company of Saks Fifth Avenue and Lord & Taylor. The unfortunate news for Gilt is that they will be sold for a fraction of the value placed on it by investors four years ago. HBC is expected to acquire Gilt Groupe Inc. for 250 million dollars, a quarter of the 1.1...

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Apparel

Gilt Groupe names chief executive

Online designer flash-sale website Gilt Groupe has announced the appointment of board member and Citigroup Inc Internet executive Michelle Peluso as chief executive officer. In a move to prepare the e-commerce retailer for a possible initial public offering, Peluso will replace Gilt’s founder and current CEO, Kevin Ryan in February, 2013. Ryan...

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