Nordstrom is chasing young shoppers by buying a stake in four apparel brands owned by U.K.-based ASOS. The longstanding department store now has minority ownership of Topshop, Topman, Miss Selfridge, and HIIT, a move that could, according to their President “redefine” the way they work with brands. Nordstrom will now be the exclusive brick-and-mortar distributor of the brands globally, which they hope will bring in a younger generation of shoppers (with growing spending power). Starting this fall, customers will also be able to pick up online orders from ASOS at Nordstrom and Nordstrom Rack locations, expanding their omni-retail capabilities for a generation of digital buyers. (CNBC)
