Nordstrom and ASOS have announced that the department store retailer has acquired a minority interest in the Topshop and related Topman, Miss Selfridge and HIIT brands.
The deal is another move by Nordstrom to broaden its relevance beyond the traditional core upscale adult shopper, in this case with young fashionistas. It follows on a Nordstrom move to refresh its annual Anniversary by featuring 40 newly introduced home brands ranging from Dyson to Food52.
ASOS characterizes itself as an online retailer focused on fashion-loving 20-somethings around the world. Through its app and mobile/desktop web operation, available in 10 languages and in over 200 markets, ASOS provides a curated edit of 85,000 products, sourced from 850 global and local third-party brands as well as a mix of own brands including ASOS Design, ASOS Edition, ASOS 4505, Collusion, Reclaimed Vintage, Topshop, Topman, Miss Selfridge and HIIT. Beyond the product assortment, ASOS offers access to various payment methods while providing a range of local deliveries and returns options, including Next-Day Delivery and Same-Day Delivery dispatched from state-of-the-art fulfilment centres in the U.K., United States and Germany.
Under the announced deal, ASOS will retain operational and creative control of the Topshop brands,but a shared ownership model will ensure close collaboration between Nordstrom and ASOS, driving a stronger future for the iconic Topshop brands worldwide. 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 American market. Nordstrom will exercise exclusive multi-channel retail rights for Topshop and Topman in all of North America, including Canada, and own a minority stake globally. In addition, Nordstrom becomes the only brick and mortar presence for these brands worldwide.
The Nordstrom investment, the companies asserted, will involve unprecedented collaboration and alignment, and redefine what has been a more traditional retail/wholesale model.
Nick Beighton, ASOS CEO, said, in announcing the partnership, “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.”
