Nordstrom buys stake in four brands owned by U.K. fashion house Asos, vying for younger shoppers
Nordstrom said the investment paves the way for the potential of a wider strategic alliance between Asos and Nordstrom.A woman is seen shopping on ASOS the online fashion store on a laptop.said Sunday it has acquired a minority stake in four apparel brands owned by the online U.K. fashion house Asos.
Nordstrom President and Chief Brand Officer Pete Nordstrom said he views the collaboration as a way to redefine the business model of a wholesaler, such as Nordstrom, working with a retailer. He also expects it to open up the possibility of further strategic partnerships in the future. "Bringing the Asos brands, including Topshop and Topman, to our customers allows us to create newness and excitement," Pete Nordstrom said in a statement.
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