Wednesday, October 2, 2019

Mall Developer Simon Takes 50% Stake in Rue Gilt And Launches Online Outlet Marketplace

Simon Property Group, a top U.S. developer of shopping centers, and digital commerce pioneer Rue Gilt Groupe, the owner of Rue La La and Gilt, are jointly building up an e-commerce marketplace that will cater to outlet mall shoppers, the companies said on Wednesday. In addition, Simon is taking a 50% stake in a new entity encompassing Rue Gilt and that website for $280 million.

The joint venture will propel e-commerce outlet shopping to a new level.. . . more