While Asos will retain creative control, Nordstrom will helm the former Arcadia-owned brands’ US expansion
Topshop, Topman, Miss Selfridge and HIIT are set to make their breakthrough into the US market, with a new deal between owner Asos and luxury department store chain Nordstrom.
Under the agreement, in which Asos will retain operational and creative control, Nordstrom will invest for a minority interest in the brands, which were taken over by the online retail giant from Sir Philip Green’s bust Arcadia in February this year.
The partnership is expected to drive the brands’ growth across the pond, by leveraging Nordstrom’s US market expertise and physical presence on the continent.
Nordstrom’s reach across North America includes 350 stores as well as an online platform, visited by more than two billion users annually.
Topshop’s history with Nordstrom goes back as far as 2012, in which the luxury name became the first-ever US retailer to stock the brand’s coveted fashion lines.
Meanwhile, as part of the companies’ wider retail partnership, Asos is working on an edit of brands that will feature across nordstrom.com and in selected high-impact Nordstrom stores.
“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,” said Nick Beighton, Asos’ CEO.
“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 of the company his great-grandfather established more than a century ago, added: “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."
Since taking on the brand just six months ago, Asos has set its sights on global retail domination for the fashion and beauty labels once owned by the British multinational retail Goliath.
Less than two months after buying out the brands for £265m, Asos raised £500m to secure international growth for the brands and reestablished Topshop’s products on its own platform.
On its beauty front, Asos has been focused on establishing itself as a trusted cosmetics player, reporting record sales for its face and body category and landing major deals with Lush and Huda Beauty.
Speaking to Cosmetics Business, the team’s Senior Beauty Buyer, Katrina Fulluck, said her focus is to offer the most relevant brands to its 20-something audience.
“We strive to provide the latest and most exciting product innovation and work very closely with our agile brand partners to curate an offering that caters to our customers' individual needs.”