Acquisition of the online businesses of UK

Arcadia filed for bankruptcy at the end of November last year after years of financial difficulties. That’s because it has lagged far behind its competitors in its online efforts, retail experts said.Acquisition of Asos for 300 million euros
Asos will acquire these brands for €300 million and will pay a further €34 million for their inventory. “We are extremely proud to be the new owners of the Topshop, Topman, Miss Selfridge and HIIT brands. Acquisitions of such iconic British brands are extremely exciting for us and for our customers. It’s a great opportunity and will help drive our multi-brand platform strategy,” said Asos CEO Nick Beighton .

 

“This acquisition represents

An extremely exciting opportunity for Asos.”“We have played a  central role in driving the online growth of these brands in recent years. We look forward to further developing these brands while working closely with our key strategic retail partners in the UK and globally,” said Beighton. Asos , a major cfo email database online fashion retailer in the UK, is a fashion brand under the umbrella of the British retailer Arcadia Group, which went bankrupt at the end of last year . Workout Wear) was acquired. Asos plans to acquire those inventories and brands, but does not intend to take over the brick-and-mortar stores.

 

Arcadia’s other brands

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Last December, Arcadia sold one of its brands, Evans , to Australian omnichannel fashion retailer City Chic . Arcadia’s unsold brands are Dorothy Perkins , Wallis and Burton . British online fashion retailer Boohoo is reportedly considering buying these brands.*This article is a translation and supplement of the article published on February 1st in the UK media ” E-Commerce News Europe ” . central role in driving the online growth of these brands in recent years. We look forward to further developing these brands while working closely

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