In one of the larger exits so far in the flash sales business, retail chain Nordstrom has acquired flash sales site HauteLookfor $180 million in Nordstrom stock and three-year earn-out of up to $90 million. HauteLook has raised $41 million in funding.
Beyond the Rack, a members-only sample sale site has raised another round of funding. The startup has just announced a $12 million round of funding from Highland Capital Partners and BDC Venture Capital. This brings the Beyond The Rack’s total funding to $16.5 million.
Similar to Gilt, HauteLook and Ideeli, Beyond the Rack is a members-only shopping site that offers steeply discounted (from 50 to… → Read More
Thanks to the immense popularity of members-only, online sample sales, HauteLook has grown to 2.5 million members since launching in 2007. The site has partnered with more than 1,000 brands to date, offering more than… → Read More
Online private sales is a growing business model that is rapidly becoming a staple of online shopping. Ideeli, Gilt Groupe, Vente-Privee, HauteLook and others are quickly gaining millions of users each and attracting significant amounts of venture funding. But the one issue I find with these sites is that it’s annoying to have to check each site every day for sales. I subscribe to almost a dozen… → Read More
Sample sales are an amazing resource for marked down goods for both mainstream and luxury brands. Online private sample sales are picking up serious speed. Here is how they work: big designers, such as Marc Jacobs or Versace, place excess inventory on a sale site at 50 to 70 percent discounts over a several day period. The sales are private, available only to members, with upcoming sales from… → Read More