Simon Properties and Rue Gilt Groupe partner in 280 million venture

The biggest shopping center developer and operator has signed an agreement with Rue Gilt Groupe to become its partner by 50% to boost its digitalization.

Mds

3 oct 2019 - 16:56

Simon Properties and Rue Gilt Group partner in 280 million venture

Simon to conquer digitalization. The American shopping malls operator and developer has partnered with Rue Gilt Groupe to help boost the online platform of its Shop Premium Outlets online value platform.

The operation represents 280 million dollars for the group. In exchange for this venture, Simon Properties will become a 50% partner of Rue Gilt Groupe, and the deal also includes Rue La La and Gilt Groupe web sites.

Both groups will continue to operate separately and maintain their identities, as stated by the companies to WWD. In the partnership, Rue Gilt Groupe will lead the day-to-day operations for Shop Premium Outlets online platform and the team at Shop Premium Outlets will transition to Rue Gilt Groupe.