United States’ leading fashion retailer, Nordstrom Inc. (JWN) teamed up with Arcadia Group to feature top British fashion brands, TOPSHOP and TOPMAN at its stores while expanding the product assortments to attract customers. These brands will feature as separate departments at 14 out of 117 of Nordstrom’s full-line stores country-wide as well as on its ecommerce website starting September 10 this year.
The brands’ collection at Nordstrom stores will include the exclusive designs available at any TOPSHOP and TOPMAN store as well as some limited-edition pieces, specially designed for Nordstrom. Additionally, the Nordstrom website will have an extended merchandise selection featuring the new brands.
Launched in 1964, TOPSHOP is a well known British brand for women, offering glamorous going out pieces, footwear, accessories and an extensive range of denim and jewellery. The brand has grown as a major British style authority due to the development of young talent including Christopher Kane, Meadham Kirchhoff, Hussein Chalayan, Richard Nicoll and Mary Kantrantzou. Moreover, the brand’s Boutique collection, which focuses on style over seasonal trends, has led to its growth.
Presently, TOPSHOP has about 319 stores in the UK and additional 137 international franchises operating in 37 countries. In the United States, TOPSHOP and TOPMAN already have flagship stores in New York, Chicago and Las Vegas. Moreover, the company is scheduled to open a store in Los Angeles in spring 2013. Other plans of the brands’ flagship stores in the pipeline include opening a second store in New York and a new store in Miami.
On the other hand, TOPMAN, which is Arcadia Group’s brand for men, produces truly exciting high-street men's fashion since 1978. The brand offers exclusive and affordable menswear in about 230 stores operating across the UK. Additionally, the brand’s website TOPMAN.COM ships to over 100 countries worldwide.
Based in Seattle, Washington, Nordstrom Inc. offers high quality apparel, shoes, cosmetics and accessories for men, women and kids. The company offers both branded and private label merchandise, as well as a private label card, two Nordstrom VISA credit cards and debit cards for Nordstrom purchases. As of June 30, 2012, Nordstrom operated 117 Nordstrom full-line stores, 110 Nordstrom Rack, 2 Jeffrey boutiques, 1 treasure&bond store and 1 clearance store, thus bringing the total store count to 231.
Nordstrom competes with other upscale specialty retailers such as Saks Inc. (SKS) and Macy’s Inc. (M). The company maintains a Zacks #3 Rank, which translates into a short-term Hold rating. Our long-term recommendation on the stock remains Neutral.
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