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Hudson’s Bay Buys Gilt for $250M

From new denim constructions, weights and washes to the steps global mills are taking to reduce impact, Rivet's SS23 In Season Look Book: Denim & Trims has everything you need to know for a successful denim season.

Hudson’s Bay Company (HBC) has bought Gilt Groupe for a fraction of what the luxury flash-sale site was valued by investors four years ago.

News of a potential sale was reported by The Wall Street Journal last month and the department store operator confirmed Thursday that it had agreed to acquire the company for $250 million in cash and plans to integrate it into Saks Off 5th, the off-price arm of Saks Fifth Avenue.

Read more at Sourcing Journal.

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