“Having achieved record revenues and profits in 2017, Rue La La is poised to further strengthen its leadership position in fashion off-price e-commerce. Through the acquisition of Gilt and our evolution into a multi-brand platform, we are equipped for an acceleration in growth, innovation and profitability," said Mark McWeeny, CEO of Rue La La. “Together with Gilt, Rue La La looks forward to increasing our presence and offering the attainable luxury and best-in-class experience that today’s customers demand.”

The Rue Gilt Groupe portfolio will serve over 20 million members with a focus on young, affluent, fashion and brand-conscious consumers, according to the companies

“This transaction places the Rue Gilt Groupe in the premier tier of e-commerce growth companies,” said Michael Rubin, executive chairman at Rue La La. “Our two distinct brands have large, highly engaged customer bases, cutting edge technology and mobile leadership. With enhanced scale and efficiency, we expect our growth trajectory to quickly enable us to surpass $1 billion in total sales.”

The transaction is expected to close in July 2018.
Prostitutes in Brussels' Rue d'Aerschot red-light district go on strike today after one of their colleagues is found murdered this morning.