Mon, Jul 1, 2013 3:51 PM EDT 1:11
Hachette Book Group, a division of French publishing giant Hachette Livre, says it's buying Disney's Hyperion, in a deal that will significantly expand HBG's backlist with about 1,000 books and a list of forthcoming titles from authors including actor Ethan Hawke. Way before Gilt Groupe or Rue La La, there was Vente-privee, the Paris-based flash sales site that launched in 2001 and unwittingly created a new commerce category in the process. The site was created by Jacques-Antoine Granjon and colleagues, who were veterans of the clothing closeout business in the offline world. Today, Vente-privee is huge and profitable, registering $1.5 billion in sales in 2012 and selling food, wine and concert tickets in addition to the core business of discount clothing to 2.5 million visitors a day. A company source says that WalMart Stores Inc will start work this year on opening its own stores in Peru and has already registered its brand and company with regulators in the booming country, a company source said on Monday.