ASOS reportedly buys Topshop, Topman and Miss Selfridges
Author: Wardah Sempa | Monday 1st February 2021
Online retailer ASOS has reportedly brought Topshop, Topman and Miss Selfridges from retail group Arcadia. Last year November, Sir Philip Green's Arcadia empire fell into administration, where over 13,000 people's jobs are in jeopardy. It is paying £265m for the brands and a further £30m for the stock.
Asos chief executive Nick Beighton said: "The acquisition of these iconic British brands is a hugely exciting moment for Asos and our customers and will help accelerate our multi-brand platform strategy.
"We have been central to driving their recent growth online and, under our ownership, we will develop them further, using our design, marketing, technology and logistics expertise, and working closely with key strategic retail partners in the UK and around the world."
