Macy’s buys a luxury cosmetics brand
February 4, 2015 12:46 PM
Macy’s Inc. has bought a cosmetics merchant and made several personnel moves that involve e-commerce this week. The retail chain is No. 8 in the Internet Retailer Top 500 Guide.
Macy’s says it will spend $210 million cash to buy Bluemercury Inc., an online and bricks-and-mortar seller of luxury makeup and spa products. It expects the deal to close by May 2.
Based in Washington, D.C., Bluemercury launched in 1999 and operates 60 stores in 18 states. Macy’s says its 500 employees will continue to operate the Bluemercury brand. Co-founder Marla Malcolm Beck will keep her job as CEO and president, while co-founder Barry Beck will stay as chief operating officer.
“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,” says Terry Lundgren, Macy’s chairman and CEO.
“Our plan is to operate and significantly expand Bluemercury stores as a standalone business with an enhanced omnichannel component for a seamless customer experience across stores, online and mobile,” Lundgren says.
Additionally, Macy’s says:
• Peter Sachse, Macy’s chief stores officer since 2012, will be Macy’s chief for innovation and business development. The job gives him oversight of the “application of technology to the shopping experience,” among other duties. Jeff Kantor, previously chairman of Macys.com, becomes Macy’s chief stores officer.
• R.B. Harrison will remain as Macy’s chief omnichannel officer and assumes “responsibility for the technology infrastructure, programming, site development and analytics for Macys.com and Bloomingdales.com, bringing together all of the company’s technology capabilities under a single executive officer.”
Macy’s plans to reports its Q4 and full year 2014 earnings Feb. 24.