Nordstrom explores Faconnable options

Nordstrom Inc. on Thursday downplayed a published report that said the retailer is close to making a deal to sell its Faconnable brand of upscale clothing and accessories.

"It's true we are exploring strategic alternatives for the brand," said Michael Boyd, a Nordstrom spokesman. "That may or may not include a sale. We are simply exploring options that would benefit Nordstrom and Faconnable."

Boyd said the company wouldn't comment on a New York Post story that said bids came in at $200 million for the unit. The story also said Nordstrom paid $350 million for Faconnable, when company records show it actually paid about $169 million.

Nordstrom in February said it was selling Faconnable, the high-priced French-based clothing line sold in its mainline stores and at four U.S. boutiques. The brand also is sold in 23 other countries, and Nordstrom has 36 Faconnable boutiques in Europe.

Nordstrom bought Faconnable, based in Nice, France, in 2000. At the time, the company had held since 1989 exclusive U.S. rights to sell the clothing.

Boyd said Faconnable is a compelling brand with a unique market niche, but Nordstrom as a U.S.-based retailer has not been able to maximize the brand.

However, Boyd said, the company is committed to keeping the brand in its mainline stores.

A potential sale comes as Nordstrom is looking to open its first New York City store.