NEW YORK (TheStreet) - eBay (EBAY) shares fell on Wednesday following news the e-commerce company is partnering with Fifth & Pacific (FNP), parent company of Kate Spade, Juicy Couture and Lucky, among other brands, to launch virtual stores called "shoppable storefronts" this weekend in New York City.
eBay shares were falling 1.7% to $51.65, while Fifth & Pacific shares were falling 0.3% to $21.33.
The four 24-hour storefronts, live from June 8 to July 7, will feature items from Kate Spade Saturday, Fifth & Pacific's newest fashion brand that was launched earlier this year.
"Kate Spade Saturday is tapping into eBay Inc.'s best innovations in mobile technology, same-day delivery, and seamless payment to create a fun, unique experience that allows pedestrians to shop an array of colorful fashion and lifestyle products 24-hours a day -- with the added bonus of free delivery -- in about an hour (or to be scheduled within a week)," according to an eBay fact sheet obtained by TheStreet. "This experience brings the best of online shopping into the physical world."Shoppers can use the interactive storefronts by selecting from 30 items of merchandise - a new item will be posted each Saturday, using the "CHECKOUT" button and entering a mobile number to receive a text message about scheduling free delivery. Customers pay at delivery using eBay's mobile payment service, PayPal Here. The four 24-hour storefronts will be located in downtown Manhattan at the following addresses:
- 175 Orchard Street
- 154 Spring Street
- 7 W. 18th Street
- 30 Gansevoort Street
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