It's a gloomy, dreary (slow news) day, and we didn't want to be the umpteenth person to tell you that
Ruffian was doing a collaboration menswear line for Macy's or
the layoffs at W, but here's a piece of fresh news: Online discounter
Rue La La was sold this afternoon for $350 million. Its parent company,
Retail Convergence will be purchased by
GSI Commerce which provides e-commerce and multichannel solutions to online businesses. You probably haven't heard of them, but you have probably shopped on websites they power which range from Ralph Lauren to Adidas to QVC. Retail Convergence also includes the older, more mass oriented site
SmartBargains.com.
Like
Gilt Groupe, Rue La La is a private site offering limited time sales on designer clothes for men and women, accessories, home furnishings and travel. Both companies are only a few years old, and have been greeted with a customer base that has been growing exponentially with no sign of letting up anytime soon. More details will be available tomorrow.
GSI to Buy Rue La La (WWD)
Invitations to Rue La La available HERE and to Gilt Groupe HERE
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