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Online Retailer Gilt Groupe Close to $250M Takeover: WSJ

Dec 17, 2015 4:31 AM   By Rapaport News
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RAPAPORT... Online retailer Gilt Groupe Inc. is close to a deal to sell itself for about $250 million to Hudson’s Bay Co., the owner of Saks Fifth Avenue, The Wall Street Journal reported December 14.

That price compares with the reported $1.1 billion value that venture capitalists had put on the New York-based company in 2011, the newspaper said.

Gilt, which sells a range of home and personal items on its website, including fashion, jewelry and furniture, was a pioneer of ‘flash sales’ that became popular during the recession, offering short-term promotions on specific items.

A final deal with Hudson’s Bay has not yet been reached and talks could still fall apart as another buyer could outbid Hudson’s Bay, according to the report.
Tags: gilt groupe, Hudson’s Bay, Rapaport News, retail, Saks Fifth Avenue
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