Thursday, February 17, 2011

Nordstrom Buys Daily Fashion Deals Site

Seattle-based department store retailer Nordstrom said Thursday afternoon that it has acquired HauteLook, an online "flash sales" site, in a deal worth $270M. Nordstrom said it will pay $180M in stock plus $90M in earn out for HauteLook, which uses email to send out daily deals for clothing and fashions. Nordstrom said the acquisition will help it participate in the fast-growing private sale marketplace.