Upscale retailer Nordstrom Inc. may have made a fashion faux
pas with its 2001 acquisition of French designer Faconnable, but it is now
looking to undo that mistake. The New York Post reported Wednesday that
Nordstrom may have found a buyer — an unspecified Lebanese private equity firm
— for the maker of high-end men's and women's apparel and accessories, which
has been a disappointment with its sluggish sales since joining the
Seattle-based company. The private equity firm is reportedly willing to pay
around $200 million for the unit. Other interested parties for Faconnable are
Nordstrom president Mark Brashear, VF Corp. and Iconix Brand Group Inc.,
according to the New York Post. Faconnable has been
on
the auction block since February, but interest in the company has only
recently begun to heat up. If Nordstrom can get $200 million for Faconnable,
the company will generate a modest premium, paying $170 million
six
years earlier for the unit. —Gerald Magpily
See story from The New York Post
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