ASOS embarks on joint venture with Nordstrom
ASOS has formed a joint venture with Nordstrom in which the US department store chain will invest for a minority interest in Topshop, Topman, Miss Selfridge and HIIT.
The online fashion retailer said the move will help drive growth for the brands and pave the way for the development of a new wider strategic partnership aimed at building greater awareness and engagement in the US and Canadian markets.
Nordstrom operates more than 350 physical stores alongside online platforms that attract almost two billion annual visits. It has already worked with Topshop after becoming the first US retailer to offer the brand to the US market in 2012.
Under the joint venture agreement, ASOS will retain operational and creative control while benefiting from Nordstrom’s US market expertise and customer reach.
ASOS is currently working with Nordstrom to launch an edit of the best ASOS brands on Nordstrom’s website and in selected stores. In addition, ASOS click and collect services will be rolled out across the wider Nordstrom store estate as a next step in continuing to enhance the ASOS proposition for US customers.
Nick Beighton, chief executive of ASOS, 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.”
