The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Asos Close To Deal To Buy Topshop, Miss Selfridge for $411 Million

Asos website. — Asos. Shutterstock. (Shutterstock)

Reuters

30 January 2021

British online fashion retailer Asos is on the verge of a deal to buy Topshop and Miss Selfridge from the administrators of British tycoon Philip Green’s Arcadia Group for almost £300 million ($411 million), Sky News reported.

Asos could announce a deal as early as Monday, Sky said.

Arcadia went into administration in November, putting more than 13,000 jobs at risk and becoming Britain’s biggest corporate casualty of the Covid-19 pandemic.

Asos and the administrators of Arcadia were not immediately available for comment.

By Aakriti Bhalla; editor: Edmund Blair.

In This Article

Topics

Retail

US Sues to Block $8.5 Billion Union of Coach, Michael Kors

Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.

Op-Ed | How Long Can Adidas Surf the ‘Terrace’ Trend?

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.

How Rent the Runway Came Back From the Brink

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.

For Struggling Public Companies, Going Private Is No Panacea

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.