Nordstrom Buys HauteLook
Seattle-based Nordstrom Inc. announced Feb. 17 that it will acquire Los Angeles–based HauteLook Inc., the online private-sale marketplace, for $180 million in stock.
According to Nordstrom President Blake Nordstrom, the acquisition will give the Seattle retailer more choices in its quest to provide more multi-channel retailing for its customers. “While our focus on providing a superior in-store shopping experience is our roots, continuing to find ways to use technology to serve customers the way they want to be served is critical. This partnership gives Nordstrom and HauteLook shared growth opportunities as online shopping evolves,” Nordstrom said.
HauteLook will operate as an independent, wholly owned subsidiary of Nordstrom. It will be managed by its current leadership. The HauteLook brand and website will remain separate from Nordstrom, according to a statement from the Seattle-based retailer.—Andrew Asch
