Deals
Rue La La Is Buying Gilt
- Retailer gets rid of fashion site two years after buying it
- Rue La La and Gilt to continue operating as independent brands
A bucket transports footwear down a conveyor belt at the Gilt Groupe Inc. distribution center in Shepherdsville, Kentucky, in 2014.
Photographer: Luke Sharrett/Bloomberg
The cleanup continues at Hudson’s Bay Co., the owner of Saks Fifth Avenue.
The struggling Canadian retailer agreed to sell Gilt, a flash-sale, e-commerce company it bought two years ago that has become one of its worst-performing businesses. The buyer, Rue La La, announced the purchase on Monday without disclosing a price, and said it plans to run the two sites independently and hire 150 people.