Asos has acquired Topshop and other Arcadia brands in “a hugely exciting moment” for the online fashion specialist.
Asos is paying £265m for Topshop, Topman, Miss Selfridge and athleisure brand HIIT. The etailer said it would use its “market-leading capabilities to drive growth globally and accelerate our Asos brands strategy”.
Asos said that the purchase of the brands represented a “strategically compelling opportunity”. Sales of the brands on its website rose 41% in the first part of the year, which it said showed they resonated with its customers.
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