Sierra Trading Post acquired by TJX for $200 million, Increasing its online retail space.
The largest international apparel and home fashion company with its purchase of the Cheyenne, Wyoming company steps into the online retail world. The retail giant currently has T.J. Max, Marshalls and HomeGood under its corporate umbrella. Sierra Trading Post e-commerce site launched in 1999 and has grown selling branded apparel, footwear and home furnishings.
"We continue to plan on launching e-commerce sites for TJX brands and this acquisition adds immediate scale, capabilities and infrastructure in e-commerce, said Carol Meyrowitz, TJX's chief executive officer. TJX noted Sierra Trading Post employs about 700 people and have 'substantial e-commerce experience and expertise."
The recent acquisition will give TJX more leverage in the online retail space competing with Macy's and Kohl's Corp.