New joint venture will help drive the growth of brands including Topshop and Miss Selfridge and Asos itself in the US and Canada.
Asos has formed a joint venture with US-based multi-channel retailer, Nordstrom.
The new venture will help to drive the growth of Asos’ brands including Topshop, Topman and Miss Selfridge, while also paving the way to explore a wider strategic partnership to build greater awareness and engagement in the US and Canada markets.
As part of the deal, Nordstrom has invested a minority interest in the Topshop, Topman, Miss Selfridge and HIIT brands, reported Fashion United.
“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,” commented Nick Beighton, ceo at Asos.
Pete Nordstrom, president and chief brand officer at Nordstrom, added: “We could not have found a better partner in Asos, the world leader in fashion for the 20-something customer. We’re excited about offering the Asos brands to our customers and we know we can help further amplify the recognition of the already popular Topshop and Topman brand.”
Asos will retain operational and creative control under the agreement, but will work with Nordstrom to leverage its US market expertise and extensive customer reach.
It will also work with Nordstrom to debut as its first ever retail partner – this will see an edit of the Asos brands launching across Nordstrom.com and in select Nordstrom stores. Click and collect services will also be rolled out across the wider Nordstrom store estate.
Nordstrom operates more than 350 physical stores in North America, alongside online platforms that attract around two billion annual visits. It was also the first US retailer to offer the Topshop brand to the market back in 2012.
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