Asos the well known online retailer store popular among the influencers and their affordable options is reported to be buying Topshop and its sister brands – Topman, Miss Selfridge and HIIT for a total of £295 million with extra £30 million for inventory from bankrupt owner Arcadia Group.
According to Tamison O’Connor of Business of Fashion, there have been trend whereby digital-first-fast-fashion companies have been buying out once-succesful high-street brands, Boohoo buying out Debenhams for £55 milion for example. The Asos and Topshop deals is said to exclude the brick and mortar stores, which if you ask me? what did Asos buy? The online store? According to BoF, Asos is already stocking Topshop products whose target audience are mostly Gen-z and Millennial demographic. The new fast growning online retailers seem to know how to stricke a deal through Merger and Aquisition and these deals tend to strength the brands’ presence in their various marketplaces.
By Lola Joseph
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