Well is this Nordstrom trying to send a statement that they are getting serious about online sales or what? An investment of a few hundred million sure would lead you to believe it’s so. It was announced this morning that Nordstrom Inc. is purchasing the online “flash sale” website, Hautelook, for a massive $270 million! This is the first retailer to buy a “flash sale” site and we’ll all be watching to see how things change for Hautelook once Nordstrom fully takes the reigns.
For those of you unfamiliar with Hautelook, here’s the quick summary… sales usually last about 48 hours and have a limited stock with discounts of up to 75% off. Once the stock is gone, that’s the end of the sale. So if it’s all gone in the first hour, that’s it…no second chances. However, you are giving up to three days notice that a sale will happen and are therefore able to schedule your time accordingly. I’m sure many Hautelook followers remember the hype behind the Diane von Furstenberg sale last year? It was madness!