Chicago-based daily deals firm Groupon purchased New York-based flash fashion site Ideeli in a deal valued at $43 million in cash in a bid to compete with Amazon and other retail businesses.
Fashion/Clothing
Jos. A. Bank Clothiers Inc's board asks stakeholders to refuse $1.6B Men's Wearhouse Inc hostile bid
Shareholders were asked by the Jos. A. Bank Clothier's Inc board to refuse a hostile bid amounting to $1.61 billion from Men's Wearhouse, Reuters reported.
Neiman Marcus Department store chain given two weeks to answer to data breach
Dallas-based Neiman Marcus Group Ltd was given two weeks by Florida Attorney General Pam Bondi to answer questions about the cyber breach that happened during the holiday rush, Bloomberg reported.
Rhode Island's Teespring raises $20M to sell custom T-shirts
Rhode Island, US-based startup Teespring has raised $20 million in its first round of funding led by Andreessen Horowitz to sell custom and pre-ordered T-shirts for a cause.
Brookstone Co engages services of Jefferies Group, K&L Gates for debt restructuring- sources
To help it restructure its debt, retailer Brookstone Co has hired a financial adviser Jefferies Group and law firm K&L Gates, according to sources interviewed by Bloomberg.
Latest News
Sports Direct, the biggest sporting goods seller in the UK, picked up a 4.6% stake in London-based multinational retail chain Debenhams for an undisclosed sum.
Private equity-owned luxury retailer Neiman Marcus Group Inc said a cyber breach in the middle of December may have compromised some of its customer cards, Bloomberg reported.
Target Corp said the cyber breach of its payment cards during the holiday shopping season was more extensive than what it had initially believed, Reuters reported.
California-based early stage investment platform TPG Growth is in advanced talks to acquire New York-based beauty company e.l.f. Cosmetics, according to three sources familiar with the matter.
New York fashion company Fifth & Pacific Cos. on Thursday changed its name to Kate Spade & Co. to reflect the company's new, singular focus. The apparel maker also announced on the same day that its chief executive William McComb will be replaced by Kate Spade CEO Craig Leavitt.
Shandong, China-based cotton and yarn manufacturer Shandong Ruyi Technology Group Co Ltd will invest $2 billion in the energy and textile sectors of Pakistan over the next two years.
Texas-based clothing retailer Men's Wearhouse made a $1.6 billion ($57.50 per share) cash offer as its latest move in a hostile bid for Maryland-based firm Jos. A. Bank, after its $55 per share offer was rejected.
Some investors say that Marc Bolland, the head of retailer Marks and Spencer will come under renewed investor pressure if the Christmas and New Year sales figures next week disappoints, a Financial Times report said.
Retailer Jos. A. Bank Clothiers on Friday amended the ownership threshold of its poison pill to 10% from 20%. The amendment would enable Jos. A. Bank to issue a large number of shares to existing shareholders in case an unsolicited buyer acquires 10% of the company.
