Asos purchases Arcadia’s principal brands to improve its own quality perception February 3, 2021 Online fashion giant Asos has announced it has beat competitors to purchase the four main Arcadia brands – Miss Selfridge, HIIT, Topman and Topshop – in order to become the number one fashion destination for young, fashion-conscious shoppers worldwide. Chief executive Nick Beighton said that the brands were a “natural fit” and resonated with their [...]
Asos shares jump as retailer confirms exclusive talks to buy Topshop January 25, 2021 Shares in Asos jumped more than five per cent this morning after the online retail platform announced it is in exclusive talks to buy Topshop – the jewel in the crown of Sir Philip Green’s collapsed business empire. Asos said this morning that it is in discussions with Deloitte – Arcadia’s administrator – to buy [...]
Asos emerges as frontrunner to buy Topshop January 24, 2021 Online retail giant Asos is now the frontrunner to buy Topshop, the flagship brand of Sir Philip Green’s collapsed high street empire Arcadia. Asos has reportedly put in an offer of more than £250m to buy Topshop, according to Sky News, days after Next withdrew from the race. If Asos’ bid is successful, the future [...]
Christmas sales hike drives strong revenue growth at Asos January 13, 2021 Sales at fashion retailer Asos surged in the four months ending in December as the online shopping boom continued amid the coronavirus pandemic. The firm said that the hike in sales had led to a better-than-expected growth in revenue over the period leading up to Christmas. As a result of the strong start to the [...]
Asos to create 2,000 jobs with new UK warehouse January 8, 2021 Online fashion giant Asos has pledged to create 2,000 new jobs via a £90m new warehouse in Staffordshire, the company announced this morning. The new 437,000 square ft site in Lichfield “will serve Asos’ growing number of customers in the UK and around the world”, the retailer said in a statement. Asos has seen sales soar [...]
Asos to launch budget brand as 20-somethings face economic impact of Covid-19 October 14, 2020 Asos is planning to launch a budget brand, the fast fashion retailer announced this morning as it warned that its core 20-something audience were vulnerable to losing their jobs during the coronavirus pandemic. The online retail giant said today that the new brand called “As You” will meet the gap in its portfolio for lower-priced [...]
Asos sounds cautious note on future demand after profit quadruples October 14, 2020 Asos reported a quadrupling in full-year profit following a spike in online shopping during the coronavirus pandemic, but warned on the outlook for consumer spending among its young customer base. The fashion ecommerce giant reported profit before tax of £142.1m for the year to 31 August, up from £33.1m the year before. Read more: Asos [...]
Asos shares jump as profit forecast raised due to online shopping boom August 12, 2020 Shares in fast fashion retailer Asos jumped this morning after it announced that full-year sales and profit are expected to beat forecasts due to an online shopping boom during the UK coronavirus lockdown. Asos said revenue growth is expected to be between 17 per cent and 19 per cent, with profit before tax of around [...]
Fast fashion firms Asos and Missguided call for action on UK worker exploitation July 20, 2020 Fast fashion retailers Asos and Missguided have called for urgent government action over the exploitation at UK clothing factories, after rival e-commerce firm Boohoo was embroiled in a scandal over the treatment of workers in Leicester. In a letter to home secretary Priti Patel, a group of retailers, MPs and investors, including Allianz Global Investors, [...]
Asos shares jump after it raises £247m to beat coronavirus April 8, 2020 Fast fashion retailer Asos’ shares shot up today after raising £247m to strengthen its financial position amid the coronavirus crisis. The online retailer announced the fundraise last night as it warned of a “prolonged downturn” due to the outbreak. It said it has placed 15.8m new shares at a price of 1,560p per share. That [...]