Shoppers will be walking near the entrance to the Nordstrom store in the Pittsburgh Mall on Wednesday, February 24, 2021. For young customers. The brands (Topshop, Topman, Miss Selfridge, HIIT) were bought by Asos in February after the former owner and British fashion empire Arcadia Group filed for bankruptcy in late 2020.
ANNE D’INNOCENZIO AP Lighter for retail
New York (dpa) – Nordstrom claims to have acquired minority stakes in four fashion brands owned by a British company called Assos, as the department store chain wants to attract more customers in their twenties. Specified.
Topshop, Topman, Miss Selfridge and HIIT brands were bought by Asos in February after the former owner and British fashion empire Arcadia Group filed for bankruptcy in late 2020. The financial terms were not disclosed.
As part of the agreement announced on Monday, Asos will retain operational and creative control of the Topshop brand. However, Nordstrom has exclusive retail rights to Topshop and Topman throughout North America, including Canada, making it a global minority shareholder. The Seattle-based retailers will also be the only store presence worldwide for these brands. You will also be able to take orders from Asos.com in Nordstrom and Nordstrom Rack stores starting this fall.
The investment, the company announced, paves the way for the possibility of a broader strategic alliance between Assos and Nordstrom.
Nordstrom has been the exclusive distributor for Topshop and Topman in the US since 2012, when department store retailers first launched the brand in the US.
Pete Nordstrom, President and Chief Brand Officer of Nordstrom, said in a statement that the acquisition “provides an opportunity to work with them to rethink wholesale / retail partnerships.”
Nordstrom buys minority stakes in four UK fashion brands | lifestyle
Quellelink Nordstrom buys minority stakes in four British fashion brands | lifestyle