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:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Digital Marketing

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

Stirista

Stirista

Founded in September 2009, Stirista is an integrated marketing agency that specializes in ...