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Report: UK’s ASOS Exploring Sale of Topshop Brand

Topshop store in London, UK. Shutterstock.

By

Reuters

29 October 2023

British online fashion retailer ASOS Plc (ASOS.L) is exploring a sale of its Topshop brand, Sky News reported on Saturday.

ASOS bought the Topshop brand in 2021 from the administrators of Philip Green’s collapsed Arcadia group, along with its Topman, Miss Selfridge and HIIT brands for 265 million pounds ($321 million).

ASOS when approached by Reuters declined to comment.

ASOS on Tuesday said it was postponing the planned publication of its annual results until Nov. 1, saying its auditor PwC needed more time.

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The group boomed during the pandemic but overhauled its business model last October after an economic downturn and operational problems hurt its profits and its shares.

By Nilutpal Timsina; Editing by Jason Neely

Learn more:

Dissecting the Rise, Fall and Future of Topshop

This week on the BoF Podcast, retail veteran and former Topshop brand director Jane Shepherdson and BoF senior editorial associate Tamison O’Connor break down Topshop’s rise and fall and what comes next for the British high street.

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