- June 22, 2021
- Posted by: Stratford Team
- Category: Business
Growing economic optimistic
Discounted luxury retailer Saks Off 5th will split its brick-and-mortar stores from its e-commerce business in a deal that values its digital enterprise as a $1 billion stand-alone entity, the company announced.
Venture capital firm Insight Partners led a $200 million equity investment in Saks Off 5th’s e-commerce business, while Saks Off 5th’s 105 store locations across the U.S. will remain separate and owned by parent company HBC, the company announced Monday.
Saks Off 5th will split its brick-and-mortar stores from its e-commerce business. (Getty Images).
The move to separate the discounted designer retailer’s digital business from brick-and-mortar comes after Saks Fifth Avenue brokered the same deal with its stores and online business, according to the New York Post.
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