Hudson’s Bay Co. Will Acquire Gilt Groupe

It’s confirmed! Hudson’s Bay Co. will acquire Gilt Groupe. What does this mean for shoppers? An expanded collection of discount designer!

Late last year, rumours speculating the acquisition of Gilt Groupe started swirling. The purchase, has since been confirmed and Hudson’s Bay Co. has agreed to purchase the online luxury flash sale retailer for $250 million in cash. The deal is expected to close on February 1, 2015.

What does that mean for consumers? The acquisition will actually benefit shoppers a lot, especially the ones that love discount designer! As part of their off-price strategy, HBC plans to merge Gilt and Saks Off Fifth, which was acquired in 2013 alongside Saks 5th Avenue. According to WWD, Gilt concept shops will open within Saks Off 5th stores (up to 8 Off 5th locations are planned to open in 2016) and shoppers will even be able to do returns and exchanges for products purchased online at in Off 5th stores. By combining the two discount luxury retailers, HBC will be able to save on expenses which means reduced shipping costs for shoppers and a greater inventory selection between the two retail properties.

Are you excited the Hudson’s Bay Co. will acquire Gilt?

Want to see more posts like this? Get your fix of news, shopping tips, sales and event information on FacebookInstagram and Twitter. Sign up to be a StyleDemocracy Insider here