British fast-fashion giant ASOS has bought Topshop, Topman, Miss Selfridge, and HIIT for £265 million ($364 million), it announced Monday.

Does ASOS own Topman?

Topman was a UK-based multinational men's fashion store chain founded by Burton (later renamed Arcadia) in 1978. Along with its women's clothing counterpart Topshop, Topman was a subsidiary of the Arcadia Group when it went into administration in late 2020. The brand was purchased by ASOS on 1 February 2021.

What brands did ASOS buy?

Asos is buying the Topshop, Topman, Miss Selfridge and HIIT brands, but not the shops. Sir Philip Green's Arcadia group fell into administration in November last year, casting doubt over the future of its brands and 13,000 jobs.

Is Topshop now owned by ASOS?

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.

Who bought ASOS?

ASOS is a public company, with Danish billionaire Anders Holch Povlsen holding a stake of just over 26 per cent in the British online retailer.

Everything you need to know about Asos' takeover of Topshop.

18 related questions found

Is boohoo owned by ASOS?

The US investment giant T. Rowe Price has taken a 10 per cent stake in the online fashion retailer Boohoo to become one of its largest shareholders. The firm already has a major stake of more than 11 per cent in Asos which acquired the Topshop, Topman, Miss Selfridge brands at the start of the year.

Did ASOS buy Topshop stores?

In one of the biggest retail deals we have seen in recent times; Topshop has now officially been acquired by mammoth online retailer ASOS.

Will ASOS keep Topshop stores?

The online fashion giant has agreed a deal for the Topshop, Topman, Miss Selfridge and HIIT brands, safeguarding approximately 300 jobs. ... However, with shops not part of the swoop, some 2,500 roles are at risk.

How much did ASOS pay for Topshop?

Asos Buys Topshop Brand for $405 Million, Plans Online Push.

How much did ASOS buy Arcadia?

ASOS has bought the Topshop, Topman, Miss Selfridge and HIIT brands from the administrators of Philip Green's collapsed Arcadia group. The deal is worth 265 million pounds ($364 million), the British online fashion retailer said on Monday.

How much is the owner of ASOS worth?

Povlsen already had a 27% stake in ASOS.com, the largest UK internet-only fashion retailer. In October 2019, Povlsen's net worth was estimated as US$8.0 billion, making him the wealthiest person in Scotland.

How much profit does ASOS make?

This statistic displays the operating profit of the online fashion retailer ASOS for the financial years running from 2012 to 2020. In the year ending August 31, 2020, the British retailer generated an operating profit of 151.1 million British pounds.

Does ASOS own new look?

Outside of own-brand, the bestselling brands at ASOS are New Look (which accounts for 1.6% of offering), River Island (1.5%) Nike (1.2%), Boohoo (0.7%), French Connection (0.8%), Ted Baker (0.4%).

What happened to Topshop?

Sir Philip Green's fashion empire Arcadia is no more, with its famous brands, including Topshop, carved up by online retailers leaving behind a ghost chain of 500 shops. The sale to Boohoo of its last three high street names – Dorothy Perkins, Wallis and Burton – was confirmed this week.

What are ASOS doing with Topshop?

Asos purchased Arcadia Group's Topshop, Topman, Miss Selfridge and HIIT brands in February, for £265m. In a media call today, Beighton said: “We're very pleased with how Topshop has performed. In the period since relaunch on 23 February, we have seen traffic increase in those brands on our site by more than 220%.

Who has brought Topshop?

Last week, rival Asos bought Arcadia's other leading brands, Topshop, Topman, Miss Selfridge and HIIT. The Arcadia businesses employed 13,000, a fraction of which will carry on into employment with the new owners.

Did Topshop merge with ASOS?

British fast-fashion retailer Asos' acquisition of British high-street retailer Topshop, announced Monday, was made possible by its excellent year: It saw sales growth of more than 10% per quarter over 2020, thanks to the surge in e-commerce sales and its quick pivot to at-home comfort wear.

When did Topshop get bought by ASOS?

It had around 510 shops worldwide – of which some 300 were in the UK – plus online operations in several markets. It was part of the Arcadia Group, controlled by Sir Philip Green, but went into administration in late 2020. The Topshop brand was purchased by ASOS on 1 February 2021.

What is wrong with Shein?

Like every other fast fashion company, clothes produced by Shein are often lower quality and not made to last. After all, their clothes are supposed to be trendy. ... This means that every piece of clothing we buy from Shein will likely spend much more time in a landfill than they will ever spend in our wardrobes.

Who owns Romwe?

Romwe has warehouses in multiple locations throughout the world. It is owned by Globalegrow E-Commerce, which also is the parent company of Shein and a number of other scam websites. Romwe also has a storefront on Amazon.

Why did Shein get Cancelled?

Shein is getting cancelled on Twitter after people came across its figure graphic phone case. Here's a look at what people have been saying. The picture has been shared on platforms like Facebook, Twitter, and TikTok. It is unclear who first shared the pictures.

Why did ASOS stop stocking Boohoo?

Amazon, ASOS, Next and Zalando have all dropped fast fashion brand Boohoo from their websites today, following allegations of “slave labour” at the UK company's factories. ... In response, the Manchester-based brand announced it would be conducting an independent review of the allegations today, led by QC Alison Levitt.