Gilt Groupe

Gilt is an online shopping website based in the United States. Gilt Groupe was founded in 2007 and has over 6 million members.

History

The company launched women's clothing and accessories in November 2007, men's in April 2008, Gilt Groupe Japan in February 2009, Gilt Fuse in August 2009, travel site Jetsetter in September 2009, Gilt City in April 2010, Gilt Home in May 2010 and Gilt Taste in 2011. Gilt Groupe is based in New York, N.Y. with warehouses in Brooklyn, NY, Las Vegas, NV, and Louisville, KY. In 2012, the company launched a partnership with Jason Binn's luxury lifestyle magazine, DuJour.

On January 7, 2016, Gilt Groupe announced its acquisition by Hudson’s Bay Company, owner of luxury department store chains Hudson’s Bay, Lord & Taylor and Saks Fifth Avenue, for $250 million, less than the amount raised from investors in all the company's prior funding rounds.

Business

Gilt Groupe visitors must be members in order to view sales. New sales last 36–48 hours and feature merchandise from a single brand or small groups of brands. Gilt purchases vendor inventory at an extreme discount, and then adds a margin on top of the discounted price in order to make a profit and sell items at a discount. On August 22, 2011, Gilt Groupe added a Facebook shopping section.Android and iPhone apps allow mobile shopping. Access is also available via mobile web for other smartphone and tablet devices. On September 9, 2015, when Apple has announced the new 4th generation Apple TV, GILT announced to make an application for the Apple TV.