Nordstrom and Asos announced that Nordstrom has acquired a minority interest in the Topshop, Topman, Miss Selfridge, and HIIT brands.
This investment will help drive the growth of these brands globally. The partnership is expected to involve extensive collaboration and alignment ro “redefine the traditional retail/wholesale model.”
While Asos will retain operational and creative control of the Topshop brands, a shared ownership model will create a collaboration between the U.S. retailer and Asos. Nordstrom has been the exclusive distributor of Topshop and Topman in the U.S. since 2012 when it became the first to bring the brand to the U.S. market. Nordstrom will now have the exclusive multi-channel retail rights for Topshop and Topman in 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.
“With its long-established connection to Topshop, extensive U.S. 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, Asos. “Asos is all about giving customers the confidence to be who they want to be. Partnering with Nordstrom will support our U.S. strategy allowing us to offer that to even more 20-somethings in North America. 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 the growth in our brands in Nordstrom stores.”
The investment opens the way for the potential of a wider strategic alliance between Asos and Nordstrom as it seeks to leverage complementary retail models to reach younger consumers. The companies are in discussions to create a multi-channel showcase for a handful of Asos’ brands for Nordstrom customers. Customers will also be able to pick up online Asos orders at Nordstrom and Nordstrom Rack stores this fall.
“We could not have found a better partner in Asos, the world leader in fashion for the 20-something customer and are thrilled to have the opportunity to work with them to reimagine the wholesale/retail partnership,” 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.”
Photo courtesy Asos