Nordstrom has set its eyes on the 20-something shopper and is collaborating with online retailer ASOS to reach them.
To kick off the collaboration, Norstrom has reached a deal with ASOS to bring Topshop apparel back to U.S. stores. The department store retailer has has acquired a minority interest in ASOS’ Topshop, Topman, Miss Selfridge and HIIT brands. The deal will mean Nordstrom will become the only brick and mortar presence for these brands worldwide. In addition, as part of the partnership, ASOS customers will be able to pick up Asos.com orders at Nordstrom and Nordstrom Rack stores starting this fall.
Whilst ASOS will retain operational and creative control of the Topshop brands, a shared ownership model will ensure close collaboration between the U.S. retailer and ASOS, driving a stronger future for the iconic Topshop brands worldwide. Nordstrom has over 350 physical stores and sites that attract almost 2 billion annual visits. The retailer has been the exclusive distributer of Topshop and Topman in the U.S. since 2012 when they became the first to bring the brand to the U.S. market. Nordstrom will now have the exclusive multi-channel retail rights for Topshop and Topman in all of North America, including Canada and own a minority stake globally.
"With its long-established connection to Topshop, extensive U.S. 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," said ASOS CEO Nick Beighton. "ASOS is all about giving customers the confidence to be who they want to be. Partnering with Nordstrom will support our U.S. 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 the growth in our brands in Nordstrom stores."
The investment paves the way for the potential of a wider strategic alliance between ASOS and Nordstrom as they seek to appeal to younger shoppers. The companies are in discussions to create a multi-channel showcase for a handful of ASOS brands for Nordstrom customers. Customers will also be able to pick up Asos.com orders at Nordstrom and Nordstrom Rack stores this fall.
"We could not have found a better partner in ASOS, the world leader in fashion for the 20-something customer, and are thrilled to have the opportunity to work with them to reimagine the wholesale/retail partnership," said Pete Nordstrom, president and CEO. "Bringing the ASOS brands, including Topshop and Topman, to our customers allows us to create newness and excitement for this important dynamic customer segment."