Although Nordstrom has been a leading upscale retailer for decades, it has decided that it needs to revamp some of its business practices.
As Cotten Timberlake writes in Businessweek: “In Nordstrom’s case, it’s a matter of wooing more fashion-conscious women. Since the recession, many female shoppers have been buying fewer clothes—bad news for a chain that generates about a third of its more than $10 billion in annual sales from ladies’ apparel. To get women excited about shaking up their wardrobes again, Pete Nordstrom, the president of merchandising, has cut a deal to sell clothes from Topshop, a London-based retailer known for mid-priced trendy styles—punk-inspired pinafores and ladylike tweed—that defy easy characterization. It’s the sort of fashion people don’t expect to find at Nordstrom. And it could draw in new customers—or turn off existing ones.”
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