ASOS launches US joint venture as Nordstrom takes stake in Topshop brands

A UK fashion group has announced that it is teaming up with a US-based brand to expand in North America.

ASOS, which owns several fashion retail brands, has formed a joint venture with multi-channel retailer Nordstrom to drive growth in the US and Canada.

Nordstrom, which has more than 350 stores across North America, is investing for a minority interest in ASOS-owned brands Topshop, Topman, Miss Selfridge and HIIT.

The deal sees Nordstrom become ASOS’ first ever retail partner, with selected ASOS brands launching across Nordstrom’s platforms and stores.

Nick Beighton, CEO of ASOS, commented: “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.”

Pete Nordstrom, president and chief brand officer for 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.”