Nordstrom to sell Asos brands to younger buyers
- Nordstrom purchases a stake in a collection of brands owned by Asos and brings them to the United States.
- It will also sell other Asos brands on its site and in select stores.
- The partnership allows Nordstrom to tap into the consumer market in their 20s.
British online fashion retailer Asos will sell Topshop clothing in Nordstrom stores as part of a joint venture with the department store chain to reach more US and Canadian customers, he said on Monday.
U.S.-based Nordstrom will buy an undisclosed minority stake in the Topshop, Topman, Miss Selfridge and HIIT brands, which Asos bought from the directors of the collapsed Arcadia group for $ 364 million earlier this year.
Asos, which sells fashion aimed at buyers in their 20s, said it would keep operational and creative control over brands. The joint venture also paves the way for a broader merger with Nordstrom to deepen Asos’ presence in North America, he added.
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“With its in-depth knowledge of US consumers and unmatched reach across North America, Nordstrom is the ideal partner to help Asos accelerate the growth of our Topshop and Asos brands in this key market,” said Nick Beighton, Director General of Asos.
Nordstrom will become the British company’s very first business partner. Asos said that as part of the partnership, some of its other brands will be sold on Nordstrom.com and in some of its retail stores.
Asos store pickup services buy online will also be available at Nordstrom stores.
This new partnership allows Nordstrom to tap into a younger market and expand its customer base beyond its core customers – Generation X and Baby Boomers. It’s something she’s doubled down on in recent years by stocking brands like Reformation or Everlane in her stores.