Asos Deepens Nordstrom Ties to Push Topshop in U.S. Market

(Bloomberg) -- Asos Plc said it’s setting up a joint venture with U.S. department store retailer Nordstrom Inc. and considering a deeper partnership to help promote the Topshop and Miss Selfridge brands the online U.K. retailer bought this year.

Nordstrom will take a minority stake in those brands, plus Topman and HITT, which Asos bought from Philip Green’s ailing retail company Arcadia Group, Asos said Monday. Nordstrom will also offer click-and-collect services for Asos in North America.

The U.S. retailer was the first to offer Topshop clothes in the U.S. about a decade ago. Asos will retain control over the brand, while Nordstrom will help marketing it, giving the online-only retailer an edge in the North American market thanks to Nordstrom’s 350 stores.

Asos bought the four brands from Arcadia for 295 million pounds ($410 million). The company’s stock has surged 46% in the past year, buoyed by the boom in online retail amid the pandemic.

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