US-based retailer Macy’s will take over Bluemercury, an American chain of luxury beauty product stores and spas, for $210 million, with the cash transaction expected to be completed in Macy’s fiscal first quarter, ending May 2015.
Bluemercury, which currently operates about 60 stores in 18 states along with an online business, will continue to be led by its founders Marla and Barry Beck. Additionally, its team of roughly 500 associates will stay in their current roles operating the standalone speciality business.
“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,” shares Macy’s chairman and chief executive Terry J. Lundgren. “We also have plans to add select Bluemercury products and boutiques to Macy’s stores across the nation.”
Barry Beck added that “Macy’s resources will help bring the speciality store format to both urban and suburban markets across the US,” adds Barry, Bluemercury co-founder and COO.