Direct To Consumer (DTC)

Leading department store operator Hudson’s Bay Company confirmed months of speculation and agreed to pay what appears to be a modest sum to acquire online luxury retailer Gilt Groupe.

Hudson’s Bay, which operates 470 department stores including Saks Fifth Avenue and the Off 5th discount format, said it agreed to pay $250 million for Gilt in a deal that will add $500 million to 2016, $40 million in adjusted operating profit by 2017 and countless synergies to leverage the combined companies’ infrastructure and customer databases.

At a time when many retailers are cutting back on store expansion, Soft Surroundings is doing just the opposite, growing its retail footprint with a prototype that brings its brand experience to life. The women’s lifestyle brand, founded in 1998 as a catalog retailer, opened its first store in 2005. But it’s only been in the past couple of years that Soft Surroundings, which also has a thriving online business, has made a big push into brick-and-mortar. (In summer 2013, private equity firm Brentwood Associates took a majority interest — 55% — in the firm.)

Online accessories retailer eBags continues to build out its senior leadership team with the newest hire filling the roles of CFO and COO.

Photo: ColorTek - Studio C, St. Louis

On-demand alcohol delivery app Drizly is in a growth mode. The start-up has an average transaction of around $70, about three times higher than a normal, average in-store transaction, the founders told Boston.com. [Boston.com]

The October 2015 launch of the Handmade at Amazon online arts and crafts marketplace was seen as a harbinger of doom for Etsy. However, Etsy CEO Chad Dickerson has publicly stated he doesn’t see Handmade at Amazon as a threat, and TheStreet reports that feedback from sellers on both platforms backs up Dickerson’s assertion. [TheStreet]

Duluth Holdings built its brand online and now, fresh of its first quarter as a public company, the quirky apparel retailer thinks it could open as many as 100 stores.

Abercrombie & Fitch elevated the head of its Hollister brand to the newly created role of president and chief merchandising officer after announcing the departure of another top executive.