Online flash sale site Rue La La, which counts eBay as an investor, is exploring a sale that could value the company at around $400 million, people familiar with the matter said on Monday.
Yesterday, BoF was first to bring you the news of the recent $18 million investment in Farfetch.com. Today, we continue a week focused on e-commerce by examining the historical challenges faced by online retailers and how recent innovations and infrastructural advances have fundamentally improved the economics of e-commerce, setting the stage for a renaissance in online retail. SAN FRANCISCO, United States — Following the burst of
Online flash sales less flashy as inventory shrinks (Reuters) “The flash sales business has lost some of its flash, forcing online luxury clothing merchants such as Gilt Groupe, Ideeli and Rue La La to radically change their business models. These businesses burst onto the fashion scene during the recession to try to move a mountain of unsold clothes. Now there is less luxury inventory and flash sales sites are bigger. That has
Luxury market faces spending drought through 2020 (Luxury Daily) “The tough economy has permanently reined in the purchasing habits of the current generation of affluent consumers and upscale brands should expect more conservative spending until Generation Y enters the luxury market in force in 2020.” PPR Third-Quarter Sales Beat Estimates (Bloomberg) “Each of PPR’s luxury brands increased sales at least 10
Software Maker Buying Web Fashion Discounter (NY Times) “GSI Commerce, which manages the Web sites for major retailers like ToysRUs.com and Zales, announced on Tuesday that it was buying Rue La La, a Boston start-up, in a deal valued at $350 million.” Giorgio Armani organizing staff as successors (Reuters) “Italian fashion designer Giorgio Armani, still frail after a bout of hepatitis, hinted on Tuesday of