ASOS has been confirmed as the new owner of former Arcadia brands Topshop, Topman, Miss Selfridge and HIIT following exhaustive negotiations with the administrators of the collapsed fashion retail group. It has acquired the brands for £330 million in a deal which includes stock and will see 300 employees transfer to ASOS. The deal does not include stores or the 2500 other staff members. Completion is expected this week.
“We are extremely proud to be the new owners of the Topshop, Topman, Miss Selfridge and HIIT brands,” said Nick Beighton, ASOS CEO. “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.”
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