Nordstrom Acquires Minority Stake in Topshop, Topman + Other Brands — Inside the Retailer’s New Deal With Asos

Nordstrom is taking its relationship with Asos to the next level. The department store will announce Monday that it is acquiring a minority stake in the Topshop, Topman, Miss Selfridge and HIIT brands — a significant move for the retailer as it executes its post-pandemic strategy. Financial terms of the deal — which comes less than six months after Asos acquired the labels — were not disclosed. (In February, Asos paid 330 million pounds to take control of the brands from the now-defunct Arcadia Group.) Asos, the UK digital powerhouse, will retain operational and creative control of the Topshop brands. “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 chief brand officer of his family’s company, in a statement. “Bringing the Asos brands, including Topshop and Topman, to our customers allows us to create newness and excitement for this dynamic customer segment.” The joint venture will allow Nordstrom, which has been the exclusive U.S. distributor of Topshop and Topman since 2012, to have the exclusive multi-channel rights for the brands across North America, including Canada.

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