And Nordstrom, in turn, will take a seat on the Asos board. The shared-ownership structure, a first of its kind for Nordstrom, enables the duo to closely collaborate, given that Asos retains operational and creative control of the Topshop brands. What Nordstrom, Abercrombie and Gap Say About Supply Chain Costs
Kohl’s has its groundbreaking partnership with Amazon. Mytheresa entered the circular fashion world by teaming with luxury fashion resale platform Vestiaire Collective. Earlier this year, Giorgio Armani said that his eponymous company could someday link up with a joint venture partner. HSBC luxury analyst Erwan Rambourg in May said that by banding together, companies can learn from their new partners’ strengths. Joint ventures and collaborations have been the new “deals” taking hold in the fashion world. “We could not have found a better partner in Asos, the world leader in fashion for the 20-something customer, and are thrilled to have the opportunity to work with them to reimagine the wholesale/retail partnership,” he added. Pete Nordstrom, president and chief brand officer for the Seattle-based department store, said the arrangement helps Nordstrom “create newness and excitement for this important dynamic customer segment.” Nordstrom doesn’t yet sell either Miss Selfridge or HIIT. The Nordstrom-Asos joint venture also gives the American retailer the exclusive multichannel rights to all of North America, which means it’s the only retailer that can sell Topshp and Topman brands in a physical store. Asos acquired the millennial and Gen Z-loved brands in February.
The department store has taken a minority stake in Asos Holdings, which owns the two labels, along with Miss Selfridge and HIIT. is taking its connection with the Topshop and Topman brands to a deeper-and global-level.
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