Asos paid £330m in total, including £265m for the brands and £65m for current and future stock. ... ‘The acquisition of these iconic British brands is … “The acquisition of these iconic British brands is a hugely exciting moment for ASOS and our customers and … Slaughter and May is advising ASOS plc on the acquisition of the Topshop, Topman, Miss Selfridge and HIIT brands for £265m. On February 1st, Asos announced it had acquired Topshop, Topman, Miss Selfridge, and HIIT brands for £265 million from Arcadia. Asos only operates online and has not bought any of the Topshop, Topman or Miss Selfridge stores. Asos has purchased Arcadia Group’s Topshop, Topman, Miss Selfridge and HIIT brands for £265m. The sale of Topshop, Topman, Miss Selfridge and HIIT to Asos leaves Burton, Dorothy Perkins and Wallis as the remaining labels still in need of a … “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, and working closely with key strategic retail partners in the UK and around the world.”. Why is ASOS’s acquisition of Topshop so significant in the world of digital and data? “Asos already has some of these brands on its site, it knows how Topshop sells to existing customers for instance, and can stop those sales going to a competitor,” Maureen Hinton, global retail research director at GlobalData, previously told BoF. Topshop chunky loafers, was £29.99, now £22.99, ASOS . Discover more about this iconic brand, including its much loved denim range and new season must-haves, with ASOS. “The acquisition of these iconic British brands is a hugely exciting moment for Asos and our customers and will help accelerate our multibrand platform strategy,” he said. Nordstrom and Asos are employing a “clean-slate” approach to drive Topshop and Topman’s businesses in the U.S. — and the new partners could soon be teaming up on other projects too. The deal is … Any acquisition would be funded from cash reserves.” ASOS began selling the Topshop and Topman brands on its site in autumn 2019 and from a customer profile perspective it is seen as the best fit for the young fashion brands from Arcadia. Topshop finally has a new owner. Asos is also not acquiring the main Topshop distribution centre in the East Midlands, an asset that estate agent Savills believes could be worth more than £50m. Disappointed isn’t the word today. Fast-fashion e-commerce giant ASOS has acquired Topshop and its affiliate brands Topman, Miss Selfridge and HIIT in a deal worth $411 million USD. Meanwhile, the competition is continuing to increase the pressure: last week, Boohoo confirmed it is in talks to buy up the remaining brands in Arcadia’s portfolio, which include Burton, Dorothy Perkins and Wallis. ASOS CEO Nick Beighton said: “We are extremely proud to be the new owners of the Topshop, Topman, Miss Selfridge and HIIT brands. In a major changing of the guard, British online retailer Asos has snapped up the high-street label alongside sister brands Topman, Miss Selfridge and HIIT, in a deal worth £295 million ($411 million). Asos said it will use its existing warehouse and technology infrastructure to absorb the stock – annual revenue at Topshop alone has been around £800-900m in the last few years. © 2021 The Business of Fashion. // Asos relaunches Topshop online after acquisition “It’s not our core model to take stores, nor our core strategy, but never say never. On Monday, the company clinched a deal to buy coveted high-street brand Topshop out of administration from parent company Arcadia Group. Asos will acquire the brands, intellectual property and inventory. But while the retailer has a substantial wholesale business, selling Topshop alongside a range of labels including Nike, Tommy Hilfiger and & Other Stories, it’s also been dialling up its own-label business. Only 300 staff will be brought over as part of deal with Arcadia, putting 2,500 jobs at risk, First published on Mon 1 Feb 2021 19.05 AEDT. Asos will pay £265 million for the brands and a further £30 million for their inventory, but the deal excludes any associated stores. Asos is believed to have beaten other potential bidders including the Chinese fashion retailer Shein, Authentic Brands, the US owner of the Barneys department store – which was linked to a joint bid with JD Sports – and the billionaire Issa brothers, who in October announced they were buying Asda for £6.8bn. ASOS, run by Scotland's richest man Anders Holch Povlsen, worth £6.1billion, has bought the Topshop, Topman, Miss Selfridge and HIIT brands … Online fashion retailer ASOS has acquired the Topshop, Topman, Miss Selfridge and HIIT brands from the Arcadia Group for £265 million, approximately $411 million USD. SEE ALSO : Topshop to close store in Hong Kong. Asos has signed a deal to buy Topshop and three other Arcadia brands for £265m.. Warehouse and head office jobs are also at risk. SHOP NOW "Topshop and Topman were well-established, strong-performing brands on ASOS prior to the acquisition… The deal puts thousands of jobs at risk — Asos said just 300 positions across design, buying and retail partnerships would be transferred into its ranks. Arcadia employed around 13,000 people and has 444 UK stores . UK online fashion retailer ASOS buys Topshop, Topman, Miss Selfridge with retail collapse. The acquisition of these iconic British brands is a hugely exciting moment for ASOS and our customers and … It is understood an additional 50 stores have permanently shut since administrators were appointed in November. The changeover is expected to take place on Wednesday night, with customers likely to be greeted with a webpage redirecting them to the Asos site, which will start incorporating the new brands into its own online platform. Disappointed isn’t the word today,” they said. In a statement, the online-only retailer said it would be "transforming the digital experience through full integration into the ASOS platform." Asos also said it sees “significant scope” for strategic retail partnerships, especially in the US via Topshop’s tie-up with Nordstrom. (RTTNews) - ASOS plc (ASOMY.PK, ASOMF.PK, ASC.L) announced the acquisition of Topshop, Topman, Miss Selfridge and HIIT brands. The deal also includes Topman, Miss Selfridge and the activewear brand HIIT, which were put up for sale after Arcadia collapsed into administration last year. The company had a surplus of cash that allowed it to cover the entire $400 million price tag with cash. It’s actually disgusting. The deal also includes Topman, Miss Selfridge and the activewear brand HIIT, which were put up for sale after Arcadia collapsed into administration last year. Asos has acquired Topshop and other three Arcadia Group brands for £330 million, in a deal that does not include the brands’ stores and places … “The acquisition of these iconic British brands is a hugely exciting moment for ASOS and our customers and will help accelerate our multi-brand platform strategy,” said ASOS CEO Nick Beighton […] Affordable online retailer Asos has bought Topshop in a deal thought to be worth about £295 million. The online fashion retailer Asos is the new owner of Topshop and other leading brands from Sir Philip Green’s Arcadia empire after a £330m deal that puts thousands of jobs at risk. Beighton said he was “extremely proud” of the deal. Asos's website is now the only place to purchase Topshop items, as Boohoo is reported to be looking into Arcadia's Daventry warehouse. Slaughter and May is working closely with the ASOS in-house legal team led by Anna Suchopar, General Counsel and Company Secretary. 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