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...
Dec 15, 2015
Off 5th, Saks Fifth Avenue´s off-price business, is seemingly doing very well in the United States. As the acquisition of the Galeria Holding by Saks´s parent company Hudson Bay´s Co (HBC) nears completion, the company is eyeing opportunities for expanding to Europe. “We intend on bringing Off 5th to Germany,” said HBC´s CEO Storch in an...
Nov 18, 2015
New York City has been home to Saks Fifth Avenue for decades and decades, but, now, New York City will be home to the department store's off-price chain, Saks Off 5th. As Bloomingdale's announced earlier this year that they will be opening an outlet chain on the Upper West Side, and Nordstrom has long had their popular Nordstrom Rack location in...
Nov 17, 2015
Outlet retail chains seem to be all the rage nowadays. Nordstrom Rack has surpassed Nordstrom in terms of the number of stores they have in the United States, Bloomingdale’s has announced plans to open an outlet in Manhattan, and now it looks like Saks Fifth Avenue is the latest luxury department store to take notice of the power of the outlet...
Aug 14, 2015