A little biz news to shake up fashion week: Nordstrom has just announced that they are acquiring private flash sale site HauteLook for an estimated stock value of $270 million.

Considering HauteLook’s four million members (as of June this past year Gilt only had around three million but is valued at over 400 million), it’s not for a huge amount of money, but it’s significant nonetheless. Here’s why: The deal marks the first instance of a big brick-and-mortar retailer buying a private flash sale site. Big retailers like Nordstroms make a lot of money through outlet stores and flash sale sites have become the new outlets, so to stay alive, big retailers have to get in the game–only they lack the infrastructure. Nordstrom didn’t suffer as badly as many other major retailers did during the recession so they’re well placed to make this deal. It’s a good deal for HauteLook, too. While they sell everything from Omaha steaks to Cartier watches on their site, as part of Nordstrom the site will have access to more brands.

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