Gilt news and archive

How Gilt established its business in the luxury fashion world: A case study

According to McKinsey’s fashion forecast analysis, the global industry will show revenue growth of 2 to 4 percent in 2024, with the luxury segment continuing to generate the majority of economic gains. LVMH led with a 9 percent increase in sales, reaching over 86 billion euros, and a net profit surpassing 15 billion euros. Hermès notably...

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Retail

Gilt partners with stylist Rachel Zoe for curated shops

Online fashion outlet destination Gilt has announced a partnership with Rachel Zoe to create special curations. The celebrity stylist and fashion designer will handpick items across womenswear, menswear and home decor for two online boutiques. The second edition will be focused on Mother's Day gift recommendations. Gilt functions as a membership...

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Business

Rue La La to acquire Gilt

Flash sale brand Rue La La has confirmed that it is to acquire Gilt, from the Hudson’s Bay Company to create a “multi-brand growth platform”. Both e-commerce destinations will continue to operate independently a statement confirmed, with both Rue La La and Gilt “retaining their unique identities and serving distinct customer segments,” while...

Fashion

Sarah Jessica Parker Joins Forces with Gilt for New Bridal Line

Style icon Sarah Jessica Parker is lending her expertise to a new ready-to-wear line of bridal attire. The actress has teamed with Gilt for the collection, which features ten styles created for the different stages of a bride’s special day - from the wedding shower to the reception. The pieces, available through Gilt.com, range from classic...

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Business

Hudson’s Bay reports better than expected Q1 sales

Canadian retail group Hudson’s Bay Company (HBC) first quarter sales where better expected, as sales where driven by the company’s expansion push into European and its recent acquisition of online retailer Gilt. For the 13 weeks which ended April 30, 2016, HBC reported consolidated retail sales increase of 59.4 percent, up 1.2 billion CA dollars...

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Management

Hudson Bay buys luxury deal site Gilt for 250 million dollars

Hudson Bay, owner of brands such as Lord & Taylor, Saks Fifth Avenue, and Saks Off 5th, has announced the acquisition of Gilt Group Holdings Inc. for 250 million dollars. As advanced by both companies Thursday, the Toronto-based retailer will at the same time integrate the online company into some of its physical store locations. Gilt concept...

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Fashion

Gilt debuts first city-specific sale in LA

This week, Gilt introduced a sale focused on Los Angeles-based designers. The site, known for its daily deals, is debuting its first-ever city-specific sale. On Wednesday evening, the company celebrated the city-sale debut at Palihouse hotel in West Hollywood. The sale, also known as Gilt’s L.A. Takeover, will run three days starting Thursday,...

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Business

Gilt puts IPO on hold yet keeps fundraising

The online fashion flash sales retailer has reportedly secured new investment valued at circa 50 million dollars. Gilt has confirmed this round of financing, led by current investor General Atlantic, with participation from other Gilt investors and a new strategic partner. As published by ‘Re/Code’, the new cash injection comes as Gilt has put...

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Apparel

Stuart Weitzman launching digital pop-up with Gilt

Luxury footwear label Stuart Weitzman is partnering with Gilt to launch a digital pop-up shop to celebrate the twentieth anniversary of its signature over-the-knee 5050 boot. For the first time, online flash sale site Gilt has created a dedicated microsite for the pop-up, 5050bootcamp.com, which will offer a 20-piece anniversary collection...