Nordstrom will announce on Monday that it is buying a minority stake in the Asos unit that owns Topshop, Topman, Miss Selfridge and HIIT, which Asos acquired out of bankruptcy earlier this year. Nordstrom will also start a partnership with Asos that will bring the retailer’s brands into department stores and allow Asos shoppers to pick up and return products at Nordstrom and Nordstrom Rack stores. Nordstrom has been trying to shed its association with other mall-based department stores. It has been shrinking its full-price store locations while rapidly expanding its off-price Nordstrom Rack chain, whose stores are often located in strip malls. Nordstrom has also been making investments to better link its digital operations with its physical stores, through initiatives like establishing locations where customers can pick up and return online purchases.

Source: New York Times July 12, 2021 01:00 UTC