Goodwin Procter attorneys recently advised Trunk Club, a personalized clothing service for men, in it is announced sale to fashion retailer Nordstrom. The transaction is expected to close in the third quarter of 2014. Terms were not disclosed.
Trunk Club offers men’s designer clothing to customers without the hassle of shopping in stores or online. Men tell stylists their style, fit and size preference, and the stylists ship them a handpicked selection of clothes. Members keep the items they like and send the rest back. A pre-paid shipping label is provided. The company is based in Chicago and is led by CEO Brian Spaly.
Nordstrom, Inc., founded in 1901 as a shoe store in Seattle, Wash., is a fashion specialty retailer with 271 stores in 36 states, including 117 full-line stores, 151 Nordstrom Racks, two Jeffrey boutiques and one clearance store. The company is traded on the NYSE under ticker symbol “JWN.”
The Goodwin team advising Trunk Club was led by partners Larry Chu and Caine Moss, and included associates Danielle Hammond and Natalie Martirossian (Corporate), partner Jim Riley (IP), partner Kelsey Lemaster (Tax), partner Steve Feldstein and associate Sarah Tauman (Labor & Employment), partner Lynda Galligan and counsel Todd Hahn (Antitrust).
Additional information about the transaction is available in the Nordstrom press release.