After the owner of the British fashion group Arcadia-Group, which includes the well-known brands Topshop, Topman and Miss Selfridges, filed for bankruptcy in December 2020, the great search for possible buyers of the group brands began. This could now have found itself: The online retailer Asos wants to buy Topshop and Co.!
Asos confirms interest in Topshop
After the British retailer Next was discussed as a buyer of the fashion brands for a long time, one of the most popular online shops is now reporting its interest in buying Topshop & Co: Asos! In the past few days, the rumor mill about the takeover has been simmering, now Asos has confirmed it. The British online retailer is currently conducting "exclusive discussions with Arcadia's insolvency administrators regarding the purchase of the Topshop, Topman, Miss Selfridge and HIIT brands," the company said in a press release. It is one perfect way to acquire strong brandsthat are very popular with Asos customers.
At this point in time, however, there is still no clarity as to whether a takeover will take place, the company continues. If there was a purchase, it would be made entirely with cash. How many bills would there be on the table? Approximately 338 million euros According to reports, Asos is said to have bid for the fashion brands, according to FashionUnited. It is not yet certain whether Asos will win the big race for the takeover. In addition to the UK online retailer The Chinese Shein Group and the American Authentic Brands Group are also interested in the fashion brands voiced.
Business before the end?
With the purchase of the Arcadia Group brands, Topshop and Co. could be saved from their end. But what happens to the businesses and employees when you take over? Asos would like to buy the fashion brands, but as a pure online retailer, a continuation of the stationary trade could not be of great interest. Thus, despite a successful takeover TEndless jobs are at stake.
Asos a winner despite the crisis
The stationary retail sector is struggling with a major drop in sales due to the closings caused by the pandemic during the lockdown. A fight that drives not only the Arcadia Group but more and more companies into bankruptcy and breaks their necks. But while some are facing the end, others are going out of the big crisis as winners. So does Asos. The online retailer recorded growth despite the corona crisis and was able to even quadruple its annual turnover.
The corona crisis hits more and more companies. We'll tell you which companies have already filed for bankruptcy, closed branches or even laid off employees.