Interpretable Clustering using Unsupervised Binary Trees
  We herein introduce a new method of interpretable clustering that uses unsupervised binary trees. It is a three-stage procedure, the first stage of which entails a series of recursive binary splits to reduce the heterogeneity of the data within the new subsamples. During the second stage (pruning), consideration is given to whether adjacent nodes can be aggregated. Finally, during the third stage (joining), similar clusters are joined together, even if they do not descend from the same node originally. Consistency results are obtained, and the procedure is used on simulated and real data sets. 
Ricardo Fraiman, Badih Ghattas and Marcela Svarc
stat.ME