Nordstrom to acquire Asos

NEW YORK (AP) — Nordstrom says it’s acquiring a minority interest in four fashion brands owned by the British company Asos (AY’-sohs) as the department store aims to reach out to younger customers. The brands — Topshop, Topman, Miss Selfridge and HIIT — were purchased by Asos in February after their previous owner and British fashion empire Arcadia Group filed for bankruptcy in late 2020. The financial terms haven’t been disclosed. As part of the agreement, Asos will retain operational and creative control of the Topshop brands, but Nordstrom will now have the exclusive retail rights for Topshop and Topman in all of North America including Canada and own a minority stake globally.