Nordstrom inks 20-something centric omnichannel deal with Asos

Asos has formed a joint venture with US retailer Nordstrom.

The latter will invest for a minority stake in the Topshop, Topman, Miss Selfridge and HIIT brands which Asos acquired out of bankruptcy this year.

Financial terms of the deal were not disclosed.

It’s part of a move by Nordstrom to make its physical and online stores work more seamlessly together.

Asos, meanwhile, gets a physical foothold in North America.

We're excited to announce a game-changing joint-venture with @Nordstrom, which sees it taking a minority stake in our iconic Topshop brands - bringing together two highly complementary retail models to deliver for 20-somethings across North America👉https://t.co/4cgOQutvFE pic.twitter.com/V7RLcHg3ar
— ASOS news (@ASOS_news) July 12, 2021

The pair will also start a partnership that will bring Asos brands into department stores and allow Asos shoppers to pick up and return products at Nordstrom and Nordstrom Rack stores.

Nick Beighton, CEO, comments: "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.”

“Partnering with Nordstrom will support our US 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 our Asos edit in Nordstrom stores."

Pete Nordstrom, President and Chief Brand Officer, says: “We are thrilled to have the opportunity to work with Asos to reimagine the wholesale/retail partnership and are excited about our potential as we expand our product offering to a broader audience and deliver on our commitment to helping our customers feel good and look their best."