North American retailer Nordstrom buys stake in Topshop fashion brands     

Asos and Nordstrom are setting up a joint venture that gives Nordstrom a minority stake in Topshop, Topman, Miss Selfridge, and HIIT

Nordstrom is betting Topshop can succeed with younger shoppers despite rocky performance recently. Picture: Gareth Chaney/Collins

North American clothes retailer Nordstrom is investing in Topshop and several other labels owned by online seller Asos which bought the brands out of administration this year. 

The companies are setting up a joint venture that gives Nordstrom a minority stake in Topshop, Topman, Miss Selfridge, and HIIT. 

Nordstrom will become the only brick-and-mortar presence for the brands, and the chain will also offer click-and-collect services for Asos in North America.

As clothes retailers try to recover from a difficult stretch during the pandemic, Nordstrom is betting Topshop can succeed with younger shoppers despite rocky performance recently. 

The brand debuted just over a decade ago in the US to great fanfare, but owner Arcadia began closing stores and filed for insolvency late last year. Topshop and other brands to Asos in February for £295m (€345m). 

Nordstrom, which was the first retailer to offer Topshop clothes in the US, said in the statement that this partnership will help it target “the 20-something customer”. 

Asos will retain control over the brand, while Nordstrom will help market it, giving the online-only retailer an edge in the North American market thanks to Nordstrom’s 350 stores.

Nordstrom shares fell in New York, while Asos shares were little changed in London.

• Reuters