U.S. fashion department store chain, Nordstrom, is acquiring HauteLook, The Wall Street Journal reports. The Washington-based company will pay around $270 million in stock to the online retailer for the acquisition.
Nordstrom will pay $180 million in stock and is expected to pay as much as another $90 million in stock over the next three years depending on HauteLook’s performances. Nordstrom plans to manage the HauteLook site as a stand-alone business and retain the existing management, adds Financial Times.
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