Bluemercury's Founders Are Leaving Macy's
In early 2015, Macy's (NYSE: M) announced that it had agreed to buy luxury beauty retailer and spa operator Bluemercury. The goal was to build on Macy's existing strength in the beauty business by opening more small-format Bluemercury shops, opening Bluemercury boutiques in certain Macy's stores, and adding Bluemercury products to other full-line stores.
Bluemercury has remained a separately managed part of Macy's over the past few years, under the leadership of its founders: husband-and-wife team Marla Malcolm Beck (who serves as CEO) and Barry Beck (who serves as chief operating officer). Thanks to Macy's substantial financial resources, the brand has been able to grow quickly. However, Macy's announced this week that the Becks plan to leave the company. This is a big loss for the retail giant.
Bluemercury has been an important source of growth for Macy's in recent years. Image source: Getty Images.
Source Fool.com
