Hudson Bay, which owns both Saks Fifth Avenue and Lord & Taylor, may buy formerly high-flying flash-sale site Gilt Groupe, according to a report in The Wall Street Journal.
The sale would reportedly come in at $250 million, less than the site’s former $1 billion valuation, the report said, quoting anonymous sources.
It adds that if the sale goes through, Gilt would be paired with its Saks Off 5th brand.
Last year, a report suggested that Gilt would merge with another flash site—Rue La La.
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