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Foot Locker gets approval for Runners Point purchase
New York -- Foot Locker has received approval from the Federal Cartel Office in Germany to complete its acquisition of Runners Point Warenhandelsgesellschaft mbH (RPG), initially announced in May 2013. RPG is majority owned by private equity group Hannover Finanz and operates more than 200 specialty athletic retail stores in Germany, Austria, The Netherlands and Switzerland under various banners, as well as an e-commerce site.
The transaction, valued at roughly $94 million, is expected to close early next month.
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Gilt to open pop-up store
New York -- Gilt, the popular online retailer of discounted high-end designer apparel and accessories, will open its first-ever brick-and-mortar location, a pop-up store in Shelbyville Road Plaza, Louisville, Ky.
“GLI welcomes the first Gilt.com Designer Outlet to the Louisville business community,” said Greater Louisville Inc. CEO and president Craig J. Richard in a press release issued by the online retailer. “The exciting new concept store is a unique addition to our local retail market.”