
Backed by impressive half-year trading figures and new £500 million financing, online fashion giant Asos said Friday it’s set for major international growth.
260 published items with the word (s) or phrase Topman in News, Trends, Videos, Photo galleries, Agenda and sorted by "date descending".
Backed by impressive half-year trading figures and new £500 million financing, online fashion giant Asos said Friday it’s set for major international growth.
ASOS released its interim results on Thursday and the fashion e-tail giant confirmed just how strong it is, as its own brands and Arcadia labels boomed. It saw sales rising globally and profits soared.
ASOS launches a new campaign for the UK, US and Germany from Monday to mark a wider range of Topshop/Topman products available on site following its purchase of the two brands after the Arcadia failure.
As expected, creditor losses against Topshop and Topman’s failure have ballooned. The total has now risen to £176 million as the Arcadia empire is finally wound up.
Manchester-based Boohoo Group is seeking to expand its office presence in London following recent acquisitions of the online business of London-based Debenhams and Arcadia labels Dorothy Perkins, Wallis and Burton.
Boohoo has concluded a deal to buy the remaining Arcadia brands that hadn’t been take over by ASOS and City Chic. It’s paying £25.2m to acquire the three “British heritage brands” out of administration.
The sale of four Arcadia brands to ASOS on Monday was no surprise. But what was a surprise was that no mention whatsoever was made of the future of store jobs at the Topshop, Topman, Miss Selfridge and HIIT businesses.
ASOS has bought Topshop, Topman, Miss Selfridge and HIIT and will move fast to integrate them into its set-up. It said it's an attractive opportunity and they saw fast sales growth on its platform in the latest period.
ASOS is expected to announce the acquisition of Topshop and other Arcadia brands as soon as Monday with reports that the purchase price is almost £300 million.
A very short statement from Boohoo Group on Friday confirmed that yes, it is interested in buying the remaining brands owned by failed Arcadia, a move that means the entire Arcadia empire going online-only.