Topshop finally has a new owner.
In a major changing of the guard, British online retailer Asos has snapped up the high-street label alongside sister brands Topman, Miss Selfridge and HIIT, in a deal worth £295 million ($411 million).
Asos will pay £265 million for the brands and a further £30 million for their inventory, but the deal excludes any associated stores. It concludes months of speculation over the future of a brand that once ruled the high street, after parent company Arcadia Group entered administration in November.
Source: Business of Fashion
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 