Nordstrom acquires minority stake in Topshop brands
Nordstrom, which operates more than 350 physical US stores, has a ‘strong history’ with Topshop, having been the first US retailer to offer the brand to the US market in 2012
ASOS has formed a joint-venture with Nordstrom, which will see the US department store chain invest in a minority interest of the Topshop, Topman, Miss Selfridge and HIIT brands.
The UK online fashion retailer, which acquired the brands earlier this year, said the move will “help drive the growth” of these brands and “paves the way” for exploration of a new wider strategic partnership aimed at “building greater awareness and engagement in the US and Canadian market”.
Nordstrom, which operates more than 350 physical US stores, has a “strong history” with Topshop, having been the first US retailer to offer the brand to the US market in 2012.
Under the joint-venture agreement, ASOS will retain operational and creative control, but work with Nordstrom to leverage its US market “expertise” and “extensive customer reach” to build an “exciting future” for these brands in their “second-biggest market”.
In addition, ASOS is working with Nordstrom to debut as its first-ever retail partner, which will see an edit of the “best ASOS brands” launching across Nordstrom.com and in selected high-impact Nordstrom stores.
Further to this, ASOS click and collect services will be rolled out across the wider Nordstrom store estate as the next step in continuing to “enhance” the ASOS proposition for its US customers.
Nick Beighton, CEO, at ASOS, said: “With its long-established connection to Topshop, extensive US consumer insight and unparalleled reach right across North America, Nordstrom is the right partner to help ASOS accelerate the growth of our Topshop and ASOS brands in this key market.
“ASOS is all about giving customers the confidence to be who they want to be. Partnering with Nordstrom will support our US strategy, allowing us to offer that to even more 20-somethings in North America.”
He added: “We’re excited about the opportunities ahead, collaborating to deliver the best product through engaging, friction-free multi-touch experiences and we can’t wait to see our ASOS edit in Nordstrom stores.”
