Need To Know: Nordstrom Buys HauteLook

It has just been announced that department store chain Nordstrom, will be aquiring HauteLook, the private "flash" sale website, in a stock deal that is valued at up to $270 million!

This is a very smart move considering the way consumers have been changing their shopping habits. Gone are the days where people have a couple afternoons a week to spend searching through department stores for the next great find. Today's shoppers are smarter, and we have technology in the palm of our hands to do all the hard work for us!

No major changes yet!

Saks, and Neiman Marcus are two other competitors that have been playing around with the idea of creating their own "flash" sale websites, however, Nordstrom is the first to have gone ahead and bought an already existing, private, website.

As of now HauteLook will continue to run autonomously, with no indications that Nordstrom is the owner on the website. With 4 million members, Nordstrom has made it clear they are breaking into other ways of doing business as department stores are forced to become more creative.

Very interesting story and watch out for any future developments!!

WWD-Nordstrom Buys HauteLook