Arcadia tycoon Sir Philip Green will plough £135m of investment into the business and will sell product from his flagship Topshop brand on Asos for the first time as part of a turnaround programme.
Arcadia chief executive Ian Grabiner outlined details of recovery initaitives in an email to staff earlier this week, the Daily Mail reported.
Arcadia will spend £75m on refurbishing run down stores and £60m will be invested in improving online operations including a VIP delivery service – allowing customers to choose and outfit in the morning and have it delivered the same day – and the Asos partnership.
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