Mark David The carefully tailored and fashionably dressed Sunset Strip home of Adam Bernhard, founder and former CEO of the members-only discount flash sale site HauteLook, has popped up on the market with a hang tag marked with the not-exactly-bargain-basement-price of $5.149 million.The serial entrepreneur, who once owned a chain of pizzarias in mall food courts, launched HauteLook in 2007 and sold it to Nordstrom in 2011 for a staggering $270 million, $180 million in Nordstrom stock plus a three-year earn-out of up to $90 million.
Like many retailers, Covid-19 has hit Nordstrom hard this year; stock prices have dropped by more than 50% from the more-than-$41-per-share price at the pandemic’s onset in late February.
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