Asos launches joint venture with US giant Nordstrom

In a statement to the City this morning, Asos said Nordstrom had invested for a minority interest in the Topshop, Topman, Miss Selfridge and HIIT brands.

The pureplay giant said it would retain creative and operational control of the brands, but that the joint venture would allow it to leverage Nordstrom’s “US market expertise and extensive customer reach to build an exciting future for these brands in their second biggest market”.

Asos also noted that it was working with Nordstrom to debut as its first ever retail partner, which will see an edit of the pureplay’s brand stocked on the US retailer’s websites and in select stores. 

As part of the joint venture, Asos click and collect services will also be rolled out across Nordstrom’s more than 350-strong store estate in the US. 

Asos chief executive Nick Beighton said: “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.

“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. 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.”

Nordstrom president and chief brand officer Pete Nordstrom said: “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 brands. 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.”