HBC, owner of Saks Fifth Avenue, spins the department store’s website into a separate business after raising $500M from Insight Partners at a valuation of $2B (Lauren Thomas/CNBC)

HBC, proprietor of Saks Fifth Avenue, spins the division retailer’s web site right into a separate enterprise after elevating $500M from Perception Companions at a valuation of $2B — – HBC, the proprietor of Saks Fifth Avenue, mentioned it’s going to break up the posh division retailer’s web site right into a separate enterprise after elevating $500 million.