The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
British online fashion retailer ASOS is “highly likely” to acquire more brands, its boss said on Thursday.
In February, ASOS bought the Topshop, Topman, Miss Selfridge and HIIT brands from the administrators of Philip Green’s collapsed Arcadia group for £265 million ($365 million) aiming to accelerate its multi-brand strategy.
“Asos has got ambitious plans,” CEO Nick Beighton told Reuters after the group published record first half results.
“We’re building our business to be a substantially greater business with a 10-year view...It’s highly likely to achieve those goals we would pick-up some other brands or acquisitions along the way,” he said.
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But Beighton said the bar for deals was high.
“It’s got to be fashion, it’s got to be something our 20-somethings care about, it’s got to be a strong return for our (share) holders.”
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.