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Will ASOS Acquire Topshop? Here’s What We Know
ASOS is looking to acquire Arcadia Group’s Topshop, Topman and Miss Selfridge following its administration in November 2020.
Arcadia Group, which Philip Green chaired, houses Topshop, Miss Selfridge, Outfit, Topman, Dorothy Perkins, Evans, Wallis and Burton.
Aussie retailer, City Chic, acquired Evans for £23 million following Arcadia’s collapse.
ASOS, the pureplay retailer, is up against other British retailers including Boohoo and Frasers Group, which houses brands including JD Sports.
High street retailer, Next, made a bid for the acquisition of Topshop, Topman and Miss Selfridge, but recently dropped out after their bid failed to meet expectations.
Similarly, Chinese e-commerce retailer, Shein, reportedly offered £300 million to buy the brand but may have also dropped out of the race. ASOS currently houses Topshop, Topman, Miss Selfridge and Burtons on its site, and has experienced skyrocketing sales due to the pandemic.
The online retailer is currently the frontrunner to acquire the brands nested under Arcadia Group. ASOS has declined to comment regarding the sales – Arcadia group is following suit.