Nordstrom delves into online flash sales with acquisition of HauteLook
Nordstrom created what could be an epic fashion merger Thursday when it announced that it would acquire the online sales site HauteLook for $180 million in stock, according to the New York Times.
Our Booth Moore has written about HauteLook, which is an exclusive online site similar to Gilt Group that offers members private, limited-time sales on high-end brands in clothing, furniture and travel. The department store’s acquisition of HauteLook would be the first time an established retail company delves into the world of “flash” sales by acquiring an online private sales site.
“Customers are responding to this way of shopping, so we’d like to participate,” Jamie Nordstrom, president of Nordstrom Direct, the company’s online business, said.
HauteLook will remain separate from Nordstrom.com and will continue to be run by founder Adam Bernhard.
-- Jenn Harris
Photo: Screenshot of the private online "flash" sales site HauteLook. Credit: Hautelook.com