Hudson’s Bay may be looking to purchase Gilt Groupe, a flash-sale site. According to a report in The Wall Street Journal, the sale would come in at around $250 million.
Gilt, which runs limited-time online sales of furniture, fashion and other products, has recently struggled in the face of stiff competition. According to the Journal, if the sale goes through, Gilt will be paired with the Canadian department store’s Saks Off 5th brand.
“It is our policy not to comment on rumors or speculation,” says Hudson’s Bay spokeswoman Tiffany Bourre.
The Wall Street Journal report also noted that a final deal has not yet been reached, and advised that it could still be called off. CJ
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
