General
Topshop, Topman join Asos’ stable of brands
Online marketplace Asos has picked up the Topshop, Topman, Miss Selfridge and HIIT brands from the collapsing Arcadia Group.
The £265m deal sees the business pick up the four brands, which it sees as complementary to its own brand portfolio, and will be completed on the 4th February. The cost was paid entirely from Asos’ cash reserves.
“We’re extremely proud to be the new owners of the Topshop, Topman, Miss Selfridge and HIIT brands,” said Asos chief executive Nick Beighton.
“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.”
The deal allows Asos to further boost its own-brand offer…
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