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Nordstrom buys stake in four Asos brands including Topman, Topshop

By Prachi Singh

12 Jul 2021

Business

Image: Topman, Facebook

Asos has formed a joint-venture with US-based multi-channel retailer, Nordstrom, which will invest for a minority interest in the Topshop, Topman, Miss Selfridge and HIIT brands.

The company said in a release that this joint-venture 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.

Commenting on the partnership, Nick Beighton, Asos CEO, 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 and Nordstrom join hands to offer Asos brands in the US and Canada

The company added that Nordstrom has physical and digital reach in North America, operating more than 350 physical stores alongside online platforms that attract around two billion annual visits. Additionally, it has been the first US retailer to offer the Topshop brand to the US market as far back as 2012.

“We could not have found a better partner in Asos, the world leader in fashion for the 20-something customer. We’re excited about offering the Asos brands to our customers and we know we can help further amplify the recognition of the already popular Topshop and Topman brand,” added Pete Nordstrom, president and chief brand officer, Nordstrom.

Asos brands to launch in the US market through Nordstrom

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 a future for these brands in their second biggest market.

The company further said that Asos is working with Nordstrom to debut as its first-ever retail partner, which will see an edit of the Asos brands launching across Nordstrom.com and in select Nordstrom stores. Further to this, Asos click and collect services will be rolled out across the wider Nordstrom store estate.