Nordstrom to sell Faconnable unit
From Times Wire Services
Nordstrom Inc., the Seattle-based department store chain, agreed to sell its Faconnable clothing unit to Lebanese buyout firm M1 Group for $210 million to focus on its own stores.
Nordstrom said it would continue to sell the French maker’s clothing. Faconnable operates four of its own boutiques in the U.S. and 37 in Europe.
Nordstrom, which announced in February that it might sell Faconnable, is shedding the unit as it expands its chain of 98 department stores.
