Nordstrom has recently purchased HauteLook, a “members-only luxury flash sale site” based out of LA for $270 million in stock. Approximately $180 was paid during transaction and an additional $90 is pending based on the company’s future performance.
HauteLook CEO Adam Bernhard said he “believes the two companies share a common interest” in quality customer service but believes the “exact synergies are still being worked out.”
HauteLook will still offer members 50 to 75 percent off fashion, beauty and travel brand name goods, but will operate independently by Nordstrom. For more information visit WWD.com.