Nordstrom buys private sale discounter HauteLook

The online private sales category is haute hot.

Gilt Groupe, Ideeli, RueLaLa, and HauteLook have been on a Groupon-like hot streak lately, with offers of “flash” discount sales on designer goods being a hot-commodity during the Great Recession.

Now comes word that Nordstrom, the department store chain,will acquire HauteLook, for $180 million in stock.
The New York Times DealBook says the transaction will make waves in the retail industry "as it marks the first time that a traditional retailer has acquired a company specializing in online private sales, one of the hottest pockets of the fashion business."
 
Reports are that Hautelook will operate as a stand-alone subsidiary based in Los Angeles, and its website will remain separate from Nordstrom.com.

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