Nordstrom (Seattle) announced that it has acquired a minority interest in Topshop, Miss Selfridge, Topman and HIIT brands, according to a company press release.
ASOS (London) will continue to drive creative and operational control of all the Topshop brands and will work closely with Nordstrom. Since 2012, Nordstrom has been the exclusive U.S. distributor of Topshop and Topman brands, and through this recent move, the company will gain all exclusive multi-channel rights for both Topman and Topshop in North America, including the Canadian market, and become the only brick-and-mortar retailer providing the brand a presence globally.
Pete Nordstrom, President and Chief Brand Officer, says, “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 … Bringing the ASOS brands, including Topshop and Topman, to our customers allows us to create newness and excitement for this important dynamic customer segment.”