Nordstrom Forms Subsidiary to Boost Online Business

Share this article:
Nordstrom, Seattle, Wash., announced yesterday a new subsidiary, Nordstrom.com, designed to increase its e-commerce business.


The majority-owned unit will be backed with $10 million in cash from Nordstrom as well as a $15-million investment from Benchmark Capital and a $1-million investment from Madrona Investment Group.


Dan Nordstrom, a co-president of Nordstrom, was named CEO of Nordstrom.com. Its first effort will be Nordstromshoes.com, an online shoe store that will launch this fall with an inventory of more than 20 million pairs of shoes. Nordstrom.com will take advantage of the company's catalog operation and existing e-commerce assets and its distribution network. The company's Web site launched in October 1998.
Share this article:
close

Next Article in Digital Marketing

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Digital Marketing

Is the Next Mobile Already at Hand?

Is the Next Mobile Already at Hand?

Researchers quibble about just how big the Internet of Things is going to be, but a new report says it's going to be huge and that marketers need to pay ...

Sony Brings Data to Outdoor Advertising

Sony Brings Data to Outdoor Advertising

Norwegian moviegoers got front-row seats when Sony took dynamic digital ads off the Web and into theaters.

Ramp Introduces Video Platform for Marketers

Ramp Introduces Video Platform for Marketers

The cloud-based platform syncs with marketing automation and capitalizes on user behavior to extend view times.