Nordstrom Inc. acquired a minority interest in online fashion retailer ASOS PLC's Topshop, Topman, Miss Selfridge and HIIT brands.
ASOS will retain operational and creative control of the Topshop brands.
Nordstrom has been the exclusive distributor of Topshop and Topman in the U.S. since 2012. Nordstrom would now have the exclusive multi-channel retail rights for Topshop and Topman in all of North America, including Canada, and own a minority stake globally. The retailer will also become the only brick-and-mortar presence for these brands worldwide.
Nordstrom said the investment paves the way for a potential wider collaboration. The companies are in discussions to create a multi-channel showcase for some ASOS brands for Nordstrom customers.
Customers will also be able to pick up Asos.com orders at Nordstrom and Nordstrom Rack stores this fall.