Shein weighs up Topshop bid as Asos considers sale

Shein’s interest, which was first reported by The Times, comes after the announcement last month that Asos is examining the possible sale of Topshop as part of its effort to turn around the core business.

Asos first acquired Topshop and the other Arcadia brands in a deal worth £265m in February 2021.

If a deal is confirmed, this would be Shein’s second acquisition of a British fashion brand after it bought the intellectual property assets from Frasers Group last month.

A source told the newspaper that despite Shein’s interest in the Topshop brand, it would not be a preferred bidder – their sense is “the person leading the sale process (at Asos) is not keen on Shein.”

Other bidders reported to have shown an interest in the acquisition of Topshop include Authentic and Umar Kamani, founder and former chief executive of PrettyLittleThing.

The Times also reported that Frasers is a “suggested bidder” for the brand, but it is unconfirmed whether Mike Ashley’s retail empire has expressed any interest.

Sources added that the process had “not yet moved to a bidding stage” and a sale “was not guaranteed”.