Macy’s to Buy Bluemercury Spa and Beauty Chain

03/02/2015
Macy’s is planning a bit of a makeover, announcing on Tuesday that it had agreed to buy the beauty and spa chain Bluemercury for $210 million, a move that could help broaden the department store’s customer base.
Based in Washington, D.C., Bluemercury operates 60 stores in 18 states and has a growing e-commerce business. Macy’s, which also owns the Bloomingdale’s chain of department stores, said it also planned to bring some Bluemercury boutiques and products to some department store locations.

“Beauty is a core signature business for Macy’s and Bloomingdale’s and a continued platform for our company’s profitable sales growth,” Terry J. Lundgren, Macy’s chief executive, said in a statement. “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.”
Customers can already buy makeup at Macy’s, a midmarket store that aims at middle-income consumers rather than the more affluent base of Bloomingdale’s or other higher-end retailers.
Selling items like La Mer face creams and Diptyque candles, Bluemercury could complement Macy’s cosmetics counter by offering higher-price items.
“I think the difference between spending $18 on lipstick versus $9 is not beyond the Macy’s customer’s means,” said Richard Jaffe, an analyst at Stifel Nicolaus. “I don’t know many women who say, ‘I’m only worth the $9 lipstick.’ ”
Bluemercury spas offer services like facials, massages and waxing, but Macy’s has not decided what spa services, if any, to offer in its stores, according to a spokesman, Jim Sluzewski.
“Spa services are integral to Bluemercury’s specialty stores, which are the top growth priority to start,” he said. “We then will start looking at what might make sense for Macy’s stores.”
The retailer also announced several management changes and raised its earnings guidance for 2014. Shares of Macy’s fell 1.5 percent in after-hours trading. “It’s going to be a good thing for Macy’s, but we’re talking about a $29 billion business that is going to add a spa and beauty department in their existing beauty department,” Mr. Jaffe said. “It’s not quite a rounding error, but it’s not very impactful in the scheme of things.”

Fonte:http://dealbook.nytimes.com/2015/02/03/macys-to-acquire-bluemercury/?_r=1

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