The May Department Stores Co. has purchased a 19.5% interest in The Knot, which runs a wedding planning site (www.TheKnot.com) and several other services, and will tie it to May's own gift registry sites. The total investment is $5 million.
As part of the alliance, May and The Knot will launch a multi-channel marketing campaign to promote May's registry services. These programs are offered by several of the firm's chains, including Hecht's, Strawbridge's, Foley's, Robinson-May, Filene's and Kaufmann's.
The effort will include direct mail, e-mail, online advertising, in-store promotions and ads in The Knot's Magazines.
May executives claimed that the $70 billion bridal industry is headed for major growth.
"Equally important, this alliance further supports our quest for the younger customer and give us yet another opportunity to build important synergies with our department stores and introduce our home merchandise to a highly targeted audience of new customers," said Gene S. Kahn, CEO of St. Louis-based May, in a statement.
