Get All Access for $5/mo

Nordstrom Acquires Stake in Four U.K. Apparel Brands, to Attract Younger Shoppers President Pete Nordstrom said the agreement could change the way department stores collaborate with brands.

By Euni Han

Opinions expressed by Entrepreneur contributors are their own.

Aaron J. Thornton | Getty Images

Seattle-based Nordstrom has taken a share in four brands owned by British online fashion house, Asos, CNBC reports. The retailer's stake in Topshop, Topman, Miss Selfridge and activewear line HIIT aims to lure younger customers in their 20s whose spending power is expected to rise.

Nordstrom stores have been exclusive distributors of Topshop and Topman since 2012. In a statement, President Pete Nordstrom says the stake expands on the relationship.

"Bringing the Asos brands, including Topshop and Topman, to our customers allows us to create newness and excitement."

Related: 6 Decisions That Could Change Your Business

The latest stake gives Nordstrom exclusive retail rights in North America, making it the brick-and-mortar locations in the world offering the two brands. Asos will still control creative and operational channels of the Topshop brands.

Financial terms of the deal were not disclosed but Nordstrom did say the investment could lead to a broader partnership with Asos in the future.

Customers will be able to pick up online orders from Asos at Nordstrom and Nordstrom Rack stores starting this fall.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

OpenAI Just Released Its Text-to-Video Generator, Sora. Here's How the New AI Could Impact Small Businesses and Creators.

Sora has a variety of use cases for businesses, from social media campaigns to video creation.

Growing a Business

This Cozy Coffee and Garden Shop Has Become a Staple in Its Community By Following 5 Smart Strategies

Maypop is a combination coffee and garden shop where a blend of community building and customer service creates an unforgettable experience.

Franchise

McDonald's Announces the Return of the Snack Wrap in 2025 — Here's What to Expect From Its Comeback

The decision comes after years of persistent customer demand for the portable snack, which debuted nearly two decades ago.

Side Hustle

At Age 15, He Used Facebook Marketplace to Start a Side Hustle — Then It Became Something Much Bigger: 'Raised Over $1.6 Million'

Dylan Zajac, now a 21-year-old senior at Babson College, wanted to bridge the digital divide.

Innovation

These Entrepreneurs Created a League That Turns Gamers Into Pro Race Car Drivers: 'We're Giving Drivers a Sustainable Career Path'

Racing Prodigy's innovative E2Real sports league is lowering the high-cost barrier to entry for drivers to take their passion to the track.

Business News

Who Is Luigi Mangione? UnitedHealthcare CEO Brian Thompson Murder Suspect Arrested in Pennsylvania on Firearms Charge

Mangione, 26, has not been charged in connection with the killing of Thompson.