The Strategist

ASOS buys Topshop and other Arcadia brands


02/02/2021 - 02:27



UK online retailer Asos announced that it bought several clothing brands from retailer Arcadia Group.



Eastgate Basildon
Eastgate Basildon
The deal amounted to £265m, which will be paid in cash.

The company bought out the brands Topshop, Topman, Miss Selfridge and HIIT. 

However, as previously reported, the online retailer did not acquire the physical shops where the aforementioned brands were sold by Arcadia. All of them will be liquidated.

The Arcadia Group of British billionaire Philip Green owns the Topshop, Topman, Burton and Dorothy Perkins brands. In December 2020, the group began bankruptcy proceedings and external management of the company was transferred to Deloitte. 

The company cited restrictions on shop operations due to the coronavirus pandemic as the reason for the bankruptcy.

source: ft.com