According to CNBC, Seattle-based Nordstrom has acquired a stake in four brands held by the British online apparel retailer Asos. The retailer’s investment in Topshop, Topman, Miss Selfridge, and sportswear label HIIT aims to attract younger clients in their twenties, whose purchasing power is projected to grow.
Since 2012, Nordstrom shops have been the sole distributors of Topshop and Topman. President Pete Nordstrom stated in a statement that the stake extends on the partnership.
“Bringing the Asos brands to our customers, including Topshop and Topman, helps us to generate newness and excitement.”
The financial specifics of the agreement were not disclosed, however Nordstrom did state that the investment might lead to a larger relationship with Asos in the future. Customers will be able to pick up Asos online orders in Nordstrom and Nordstrom Rack locations beginning this autumn.
