In its second-largest acquisition, Amazon buys the company for $970 million.
This is not your mother’s Macy’s.
Macy’s is an established brand looking to target a new generation of shoppers through e-commerce. Macys.com now offers designated areas for the millennial-age generation, those from about age 13 to 30: mstylelab, with brands like Baby Phat and XOXO for females age 13 to 22, plus a prominent Twitter feed for sharing fashion tweets; and Impulse, which caters to women age 19 to 30 with exclusive fashions from designers like Nicole Richie who discuss their designs in online videos. To further reach the young and fashion-conscious, Macys.com’s new shopping widget lets a shopper create a poll on Facebook, where her friends can vote on the denim or faux leather jacket she’s viewing. “We’re beginning to see improved conversions among millennials—an important new market for us,” says Kent Anderson, president of Macys.com.
Purchase the 2013 Hot 100 Issue of Internet Retailer
View the entire 2013 Hot 100 List