UK's ASOS and US' Nordstrom announce Topshop joint venture

Nordstrom has an unrivalled physical and digital reach in North America, operating more than 350 physical stores alongside online platforms that attract almost two billion annual visits. It already has a strong history with Topshop, having been the first US retailer to offer the brand to the US market as far back as 2012.

Under the JV agreement, ASOS will retain operational and creative control, but work with Nordstrom to leverage its US market expertise and extensive customer reach to build an exciting future for these brands in their second biggest market.

"The JV paves the way for wider collaboration between ASOS and Nordstrom as we seek to leverage our complementary retail models and customer insight. ASOS is working with Nordstrom to debut as its first-ever retail partner, which will see an edit of the best ASOS brands launching across Nordstrom.com and in selected high-impact Nordstrom stores. Further to this, ASOS click and collect services will be rolled out across the wider Nordstrom store estate as the next step in continuing to enhance the ASOS proposition for its US customers," ASOS said in a media statement.

"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 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 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," Beighton added.

"We could not have found a better partner in ASOS, the world leader in fashion for the 20-something customer," said Nordstrom president and chief brand officer Pete Nordstrom. "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 borader audience and deliver on our commitment to helping our customers feel good and look their best."  

Fibre2Fashion News Desk (RKS)