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Fashion Retailer Nordstrom's New Game Plan: Don't Sell Clothes

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Fashion Retailer Nordstrom's New Game Plan: Don't Sell Clothes
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High-end luxury fashion retail giant Nordstrom, Inc. (NYSE: JWN) has a new game-plan to boost sales: Don't sell high-end luxury fashion items.

Instead of selling clothes, shoes, accessories and other fashion products, Nordstrom is testing a concept where it will offer stylists, manicurists, a tailor and wine, the Washington Post reported. Consumers will be offered expert advice on how they should dress for a vacation or job interview — and then aid the customer in buying what they want directly from Nordstrom.com.

The first new store concept, Nordstrom Local, will open in Los Angeles next month and analysts are already thinking that the retailer will be opening many more stores in urban areas over time, the Post also noted.

"As retail continues to transform at an unprecedented pace, the one thing we know is that customers value great service, speed and convenience," Shea Jensen, senior vice president of customer experience for Nordstrom, said in a statement. "Finding new ways to engage with customers on their terms is more important to us now than ever."

Nordstrom's new store concept comes at a time when the company's namesake Nordstrom family is one step closer to finalizing a deal to take the company private, CNBC reported. The Nordstrom family is reportedly considering a deal in which the private equity firm Leonard Green & Partners will provide $1 billion in equity to help finance a deal.

Nordstrom's stock soared back in early June when reports indicated the Nordstrom family wanted to buy 100 percent of the outstanding shares to regain full control of the century-old company.

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Image Credit: By John Martin K, CC BY-SA 2.0, via Wikimedia Commons

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