Essay on Business Analysis : Hautelook, Inc.
HauteLook was launched in Los Angeles, California by Adam Bernhard, a serial entrepreneur and former senior vice president at Joie clothing. Bernhard initially started the site as liquid8usa.com while he was working at Joie and noticed a market for off-price goods that were either in excess or leftover merchandise. In 2007, he renamed the website and launched HauteLook in Los Angeles with four employees. The company works with major labels to offer goods that appeal to HauteLook 's "California casual" customer base.
Members sign up for free and receive emails on the latest private sales, which typically offer 50% to 75% off retail prices and last a few hours to a few days. Brands recently featured on the site included Elizabeth & James, Trina Turk, Betsey Johnson and Jessica Simpson. (Chang, 2011)
HauteLook was purchased by Nordstrom in March 2011 for $180 million in stock. This marks the first time that a traditional retailer has acquired a company specializing in online private sales (Lattman & Clifford, 2011). In October 2013, Bernhard stepped down as…