Federated Department Stores Inc. will buy a 20% interest in WeddingChannel.com and work with that firm to create an in-store and online bridal registry, the companies reported yesterday. Terms of the purchase were not disclosed.
The companies hope to exploit the $10 billion U.S. wedding gift market by integrating hundreds of thousands of annual bridal registries from Federated’s 403.
Engaged couples can register at Federated stores, including Macy’s, Bloomingdale’s, The Bon Marche and Burdine’s. Guests can access the registries and purchase gifts on the WeddingChannel.com Web site.
WeddingChannel.com has also formed a marketing partnership with Cond’ Nast’s Bride’s magazine.
In a separate development, Federated has named Brian M. Szames, vice president/treasurer of its Fingerhut subsidiary, as treasurer of Federated.
He replaces Karen M. Hoguet, senior vice president/chief financial officer for Federated, who has served in both capacities since 1997. Szames will report to Hoguet.
Nils Ytterbo, divisional vice president/financial planning for Federated, will become Fingerhut’s chief financial officer. He replaces the departing Gerald Knight.
