A month after acquiring Gilt, Saks is getting it into its stores.
As Fortune reports, Hudson’s Bay Co. (HBC), which owns Saks Fifth Avenue, acquired the eCommerce brand Gilt in January. Yesterday (Feb. 9), the company revealed that Gilt will have a section all its own at the Saks Off 5TH store — the discount arm of Saks — in midtown Manhattan.
The Gilt section of Saks Off 5TH, the outlet explains, will offer curated products, including weekly in-store sales items, as well as the opportunity for consumers to shop the Gilt site while at the physical retail location. Furthermore, shoppers will be given access to a new personal shopping program called Gilt By Appointment, which also includes assistance from an in-store personal stylist.
Fortune states that the physical Gilt space is part of HBC’s efforts to compete with discount brands like Nordstrom Rack, Neiman Marcus’ Last Call and T.J. Maxx.
“Opening Gilt boutiques in Saks Off Fifth and a place to make returns is a point for differentiation,” HBC CEO Jerry Storch told the outlet at the time of the Gilt acquisition. Citing Gilt’s strength as an eCommerce retailer, Fortune posits that the brand could provide a boost to Saks’ efforts in that area.
HBC, the outlet adds, estimates that the Gilt acquisition (and in-store brand integration) will contribute $500 million in sales this year, and about $40 million in adjusted profit in 2017.
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