Asos launches joint venture to sell Topshop clothes in US stores

Asos has partnered up with US retailer Nordstrom in a new joint venture that will see Topshop clothes sold in physical stores again for the first time since the brand collapsed last year.

The deal sees Nordstrom, which first struck a deal with the former Arcadia brand nine years ago, buy a minority stake in the Topshop, Topman Miss Selfridge and HIIT brands that were bought out of administration by Asos earlier this year.

Asos said: “The joint-venture will help drive the growth of these brands and paves the way for exploration of a new wider strategic partnership aimed at building greater awareness and engagement in the US and Canadian market.”

It is the first time Asos has struck a deal with a retailer with physical stores, having always only traded online in the past.

Nordstrom has 350 bricks-and-mortar stores in North America and a strong online business, which Asos hopes to tap into, despite having a strong internet presence of its own in the region.

Asos will retain operational and creative control but will collaborate on reaching a larger customer base.

This includes “an edit of the best Asos brands launching across and in selected high-impact Nordstrom stores”.

Asos will also offer click and collect services in Nordstrom stores.

The move is a significant one for Asos and comes five months after it bought the brands from administrators for Sir Philip Green’s Arcadia empire for £330 million.