Nordstrom’s Aussie deal

Australian fashion label, Minkpink, has signed a new partnership deal with Nordstrom, as the US department store chain aims to become a bigger player in the fast fashion sector.

Minkpink will be stocked in all of its 115 stores across the US as well as online with products ranging from $60 to $100.

In Australia, Minkpink, which is owned by fashion company House of Quirky, is stocked by David Jones as well as independent outlets including Globalise, Princess Polly, and Stellino.

Global stockists of Minkpink include Asos, Shopbop and Urban Outfitters.

It’s partnership with the local brand is one of many new youth orientated incentives, which seem to be paying off for the company.

Last week, Nordstrom posted its fourth quarter sales with its women’s apparel one of the top performing categories.

Other fast fashion deals have included Topshop concessions in selected stores and a fashion collaboration with designer, Jason Wu.

Others strong sectors included men’s apparel, cosmetics, and children’s wear.

Its results also showed a 6.1 per cent increase in same store sales from 2011. Full line same store sales increased 2.2 per cent compared with the same period in fiscal 2011.

Direct sales surpassed $1 billion dollars this year for the first time in its history, driven by a same store sales increase of 31 per cent in the fourth quarter on top of last year’s increase of 35 per cent for the same period.

Its discount arm, Nordstrom Rack, which opened fifteen stores in fiscal 2012, continued to demonstrate strong sales growth in the fourth quarter with an increase in net sales of 23 per cent.

Same store sales increased 7.1 per cent for the Rack, which is its largest fourth quarter increase in the last six years.

For the full year, the chain had a record net sales of $11.8 billion, which represented an increase of 12.1 percent compared with prior year net sales of $10.5 billion.

Full year same-store sales increased 7.3 percent, on top of last year’s same store sales increase of 7.2 per cent.

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