British online fashion retailer ASOS has entered into a joint venture with department store Nordstorm to sell brand Topshop garments at its stores in an effort to reach more US and Canadian customers.
As per a Reuters report, US-based Nordstrom will buy a minority interest for an undisclosed sum in the Topshop, Topman, Miss Selfridge and HIIT brands, which ASOS bought from the administrators of the collapsed Arcadia Group for $364 million earlier this year.
ASOS, which sells fashion aimed at 20-somethings, would keep operational and creative control over the brands. The joint venture also paves the way for a broader tie-up with Nordstrom to deepen ASOS's presence in North America
Nordstrom would become the British firm's first-ever retail partner, and will look to launch its brands on Nordstrom.com and in select retail stores, ASOS said.
