Hudson's Bay in Talks to Buy Gilt

Hudson's Bay in Talks to Buy Gilt

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Tara Bellucci
Dec 16, 2015
(Image credit: Gilt/Facebook)

Hudson's Bay Company, parent company to Saks Fifth Avenue and Lord & Taylor, is reportedly in serious talks to buy flash sale site Gilt. The deal is said to be for $250 million.

$250 million is quite the discount on Gilt's $1 billion valuation from 2012; it's harder now for a standalone flash sale business to succeed, since there are so many ways for fashion brands to offload extra merchandise, and Gmail's filtering has knocked shopping emails out of the main inbox.

Sources say Hudson's Bay is attracted to Gilt's strong mobile sales, and would potentially combine the site with its Saks Off Fifth outlet store chain.

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