Macy's acquires Bluemercury beauty retailer
Macys, the US department store chain, has signed an agreement to acquire beauty products and spa services retailer Bluemercury in a $210 million deal.
Based in Washington DC, Bluemercury operates around 60 stores in 18 states across the US and also has an online business. Products include high-end luxury beauty brands as well as its proprietary skincare brand M-61.
Following the acquisition, Bluemercury will continue to be led by Marla and Barry Beck, who co-founded the company in 1999.
Terry Lundgren, Macy’s chairman and chief executive, said: “Beauty is a core signature business for Macy’s and Bloomingdale’s and a continued platform for our company’s profitable sales growth. With Bluemercury, our company can access a new channel to reach additional customers, add new dimensions to our product offering and apply our expertise in omnichannel retailing.”
Macy’s plans to “significantly” expand Bluemercury stores as a standalone business and will also add selected Bluemercury products and boutiques to Macy’s stores across the US.
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