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Asos buys Topshop and Topman

by LLB Editor
1st Feb 21 9:03 am

Online fashion retailer Asos has acquired the Topshop, Topman and Miss Selfridge brands from the administrators to Sir Philip Green’s Arcadia Group for £295 million.

The deal will involve the closure of 70 stores resulting in the loss of 2,500 jobs. Asos will take on just 300 head office staff in buying and design.

Nick Beighton, chief executive of Asos, said: “We are extremely proud to be the new owners of Topshop, Topman and Miss Selfridge … 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.”

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