Asos to sell Topshop apparel through Nordstrom US stores
Nordstrom has acquired a minority interest in Topshop, Topman, Miss Selfridge and Hiit brands through a joint venture with online retailer Asos.
Under the partnership, Nordstrom will have the exclusive multi-channel retail rights for Topshop and Topman in all of North America, including Canada and own a minority stake globally. The retailer will also become the only brick-and-mortar presence for these brands worldwide.
Meanwhile, Asos will retain operational and creative control of the Topshop brands.
“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,” said Nick Beighton, CEO at Asos.
“Partnering with Nordstrom will support our US strategy, allowing us to offer that to even more 20-somethings in North America.”
The joint venture also marks Asos’ first partnership with a retailer with strength in brick and mortar stores. As the exclusive distributor of Topshop and Topman in the US since 1012, Nordstrom has more than 350 physical stores across North America and e-commerce sites that, according to the company, record about two billion annual visits.
“We could not have found a better partner in Asos,” said Pete Nordstrom, president and chief brand officer. “Bringing the Asos brands, including Topshop and Topman, to our customers allows us to create newness and excitement for this important dynamic customer segment.”