Reply to thread

Message: <blockquote data-quote="dxx" data-source="post: 26097661" data-attributes="member: 386171"><img src="https://ichef.bbci.co.uk/news/695/cpsprodpb/3E7A/production/_116749951_topshop_pa.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" />Online fashion retailer Asos has bought the Topshop, Topman, Miss Selfridge and HIIT brands from failed retail group Arcadia in a deal worth £295m.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.Asos is acquiring the stock and the brands. However, it is not taking on the stores.It is paying £265m for the brands and a further £30m for the stock.Asos chief executive Nick Beighton said: "The acquisition of these iconic British brands is a hugely exciting moment for Asos and our customers and will help accelerate our multi-brand platform strategy."We have been central to driving their recent growth online and, under our ownership, we will develop them further, using our design, marketing, technology and logistics expertise, and working closely with key strategic retail partners in the UK and around the world."Administrators for Arcadia confirmed the deal, saying about 300 people currently employed by the brands in design, buying and retail partnerships would transfer to Asos.The administrators added that the deal was expected to complete on 4 February.Other brands in the Arcadia stable that have not yet been sold include Dorothy Perkins, Wallis and Burton.It emerged last week that <a href="https://www.bbc.co.uk/news/business-55852052" target="_blank">online fashion retailer Boohoo was in "exclusive" talks</a> to snap up those brands.Also last week, Boohoo sealed a deal to buy the Debenhams brand and website for £55m. However, the price tag did not include any of the retailer's remaining 118 High Street stores or its workforce, resulting in up to 12,000 job losses.</blockquote>

Verification: Dawasata paya keeyak thibeda?

Top Bottom