Reuters will promote ASOS in the UK to sell Topshop clothing in Nordstrom stores in the US
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© Reuters. PHOTO OF THE FILE: The Asos logo is seen on a smartphone in front of the TopShop logo shown in this illustration taken on January 25, 2021. REUTERS / Dado Ruvic / Illustration
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(Reuters) – British online fashion retailer ASOS (LON 🙂 will sell Topshop clothing in a business with a chain of department stores in Nordstrom (NYSE :), it said Monday in an effort to reach more customers in the US and Canada.
Nordstrom in the U.S. will buy a minimum interest for the undisclosed amount in the Topshop, Topman, Miss Selfridge and HIIT markets, buying $ 364 million from the administrators of the collapsed Arcadia Group this year.
ASOS, which sells fashion aimed at 20-year-olds, has said it will maintain operational and creative control over brands. The joint venture paves the way for a broader link with Nordstrom to deepen ASOS ’presence in North America, he added.
“With a broad view of U.S. consumers and unparalleled reach across North America, Nordstrom is the right partner for ASOS to grow our Topshop and ASOS brands in this key market,” said Nick Beighton, ASOS CEO.
It would become the first retail partner of the British company Nordstrom and wants to market its brand on Nordstrom.com and certain retail stores, ASOS said.
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