Nordstrom has obtained a minority stake in the Topshop, Topman, HIIT and Miss Selfridge labels. Its investment will fuel the expansion of the brands around the world, according to a Monday (July 12) announcement from Nordstrom and British fashion retailer ASOS.
“ASOS is all about giving customers the confidence to be who they want to be. Partnering with Nordstrom will support our US strategy, allowing us to offer that to even more 20-somethings in North America,” ASOS CEO Nick Beighton said in the announcement.
Nordstrom will now possess “exclusive multi-channel retail rights” for Topman and Topshop in North America as a whole. The merchant will also “become the only brick and mortar presence for these brands worldwide,” according to the announcement.
“Bringing the ASOS brands, including Topshop and Topman, to our customers allows us to create newness and excitement” for “the 20-something customer,” Nordstrom President and Chief Brand Officer Pete Nordstrom said in the announcement.
Nordstrom’s investment sets the stage for a possible “wider strategic alliance between ASOS and Nordstrom.” The firm are in discussions to make a “multi-channel showcase” for select ASOS brands for Nordstrom shoppers.
Moreover, shoppers will have the ability to retrieve Asos.com orders at Nordstrom Rack and Nordstrom brick-and-mortar locations this autumn.
The news comes as Nordstrom and Indochino announced in June that they are rolling out almost two dozen store-in-store locations.
In revealing the long-term custom apparel partnership, Washington state-based Nordstrom said the addition of 21 Indochino shops inside of its men’s department will provide shoppers with convenience and personalized styling.
“This partnership demonstrates Nordstrom’s commitment to providing new and exciting merchandise offerings, while maintaining its reputation for offering top level services and experiences for customers,” according to an announcement.
Nordstrom also recently continued its effort to become a digital-first business with the introduction of its livestream shopping channel.
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