Nordstrom Acquires Minority Stake in Four ASOS BrandsNordstrom Acquires Minority Stake in Four ASOS Brands
To target younger audiences, Nordstrom has acquired a minority stake in Topshop, Topman, Miss Selfridge and HIIT.
July 13, 2021
The investment in Topshop, Topman, Miss Selfridge and HIIT brands by Nordstrom is aimed at driving growth globally and re-creating the traditional retail/wholesale model thanks to a new strategic partnership with ASOS.
"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," says Nick Beighton, chief executive officer, 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."
ASOS will retain operational and creative control over the Topshop brands. Still, the close collaboration will open new markets in North America through Nordstrom's position as a leading multichannel retailer in the region. Nordstrom will be the only bricks-and-mortar presence for the four key brands worldwide.
"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," says Pete Nordstrom, president, chief brand officer, Nordstrom. "Bringing the ASOS brands, including Topshop and Topman, to our customers allows us to create newness and excitement for this important dynamic customer segment."
This investment brings an opportunity for both brands to join retail models and give consumers in their twenties tailored fashion programs.
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