Not unlike Walmart, Qurate Retail Group has divested Zulily to focus on its core business. The once popular flash sale site, targeting young mothers with deals across brands and categories including apparel, home and garden and toys, was sold to Los Angeles-based investment firm Regent. It was purchased in 2013 for $2.4 billion.
Prime Day saw 175 million items purchased by Prime members over the two days, according to Amazon, eclipsing its 2018 Black Friday and Cyber Monday sales combined, while analysts pegged total GMV at $6 billion to $6.2 billion. See what other interesting statistics we found to paint a picture of the concocted “Christmas in July.”
Rue La La is acquiring Gilt Groupe from Hudson’s Bay Company, which itself just purchased it in 2016 for $250 million, in a preservation merger of the two largest flash sale sites. Terms were not disclosed.
Most retailers are acutely aware: November and December have nearly twice the revenue potential as any other month, and the momentum only continues to grow. Here is how retailers can make the most of holiday flash sales this year.
Large retailers acquiring major flash sale sites are slowly becoming the norm in today’s retail landscape. See what acquiring major flash sale sites means for major retailers and their business model.
Bed, Bath and Beyond Inc. announced it has acquired One Kings Lane Inc. for an undisclosed sum. See what this will mean for both brands going forward.
Several reports have indicated that high-end retailer Saks Fifth Avenue is in talks to acquire New York-based flash-sales site Gilt Groupe for $250 million. See what this will mean for both companies.
Rue La La has a leadership in mobile penetration because of the very nature of its flash sales business. In this video, Rue La La CEO Steve Davis talks about why Thanksgiving shows the ongoing adoption of that channel by consumers, and why retailers need to step up to the plate.
On Thursday evening, Rue La La shoppers pushed back from the Thanksgiving table and turned to their devices. The members-only flash-sales site reported record-breaking sales via mobile devices Thanksgiving, with 68% of sales coming from mobile.
Rue La La has hired JP Morgan Chase to seek strategic alternatives, including finding a buyer, and Gilt Groupe is seen as the leading contender.