Nordstrom Acquires HauteLook

Nordstrom Inc. is jumping into “flash” sales. In a stock deal valued at up to $270 million, the Seattle-based retailer is acquiring HauteLook, a leading members-only sale website. The site, which offers men’s, women’s, accessories, children’s, home and more, specializes in brands that encapsulate the West Coast lifestyle. Competitors, such as Saks Fifth Avenue and Neiman Marcus, have introduced similar online sample sale concepts of their own, but Nordstrom is the first to purchase an up-and-running site with a strong brand list and audience. HauteLook has approximately 4 million members and has offered more than 2,500 sales with at least 1,000 different brands.