Asos: confirms acquisition of Topshop brands

(CercleFinance.com) - British fashion platform Asos this morning confirmed that it is acquiring the Topshop, Topman, Miss Selfridge and HIIT brands from the joint administrators of Arcadia for 265 million pounds (about 300 million euros).


The deal is fully cash funded from existing cash reserves, the online clothing retailer said in a statement.

In 2019, before the COVID outbreak, the acquired brands delivered total revenues of approximately one billion pounds, reflecting their strength, Asos noted.

However, in the most recent financial year, the Topshop, Topman and Miss Selfridge brands made an operating loss of about 1.8 million pounds, it added.

The London-listed shares of Asos were up 4.6% on the news.

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