PHILADELPHIA, October 2, 2019: Morgan Lewis represented Rue Gilt Groupe (RGG) in connection with a significant minority investment by publicly traded Simon Property Group (SPG).
Per the agreement, Simon will contribute approximately $280 million to RGG, including the value of Shop Premium Outlets. ShopPremiumOutlets.com delivers world-class brands at outlet pricing currently encompassing 26 merchants with over 2,000 designers and 300,000 products.
Rue Gilt Groupe is an off-price ecommerce company connecting more than 25 million members through strategic merchandising, technology and marketing. Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company.
Partners Richard Aldridge, Kevin Shmelzer, Jeff Bodle, and Douglas Kingston led the Morgan Lewis team advising Rue Gilt Groupe.