Mike Ashley’s Frasers Group sells shares in Asos following Topshop spike September 23, 2024 Frasers Group, the retail empire controlled by Mike Ashley, has lowered its stake in fast-fashion giant Asos. The Mansfield-headquartered group, which owns the likes of Sports Direct and House of Fraser, has decreased its holdings in Asos from 24.3 per cent to 21.1 per cent, according to a new filing with the London Stock Exchange. [...]
Fashion brands told to ‘stay on the right side of the law’ amid greenwashing claims September 18, 2024 Some of the most high-profile fashion brands in the UK have been warned to be clearer on their green credentials by the UK competition watchdog as it clamps down on misleading marketing. The Competition and Markets Authority (CMA) has issued a new sustainability compliance guide for retailers and told 17 brands to review their practices. [...]
Asos slashes £500m debt pile as refinancing deals revealed September 11, 2024 Asos has announced the successful refinancing of the majority of its £500m debt due in 2026, with only just over £70m outstanding. The online fast-fashion retailer, which has struggled with post-pandemic shopping trends, had £500m in convertible bonds due 2026. The London-headquartered company has now exchanged £253m into convertible bonds due in 2028 rather than [...]
Asos rejected £215m Topshop offer from Shein in favour of lower bid September 8, 2024 Online clothing retailer Asos had declined a much higher bid for Topshop and Topman from fast fashion giant Shein in favour of its new joint venture with Heartland.
How Asos’ post-pandemic debt led it to sell Topshop September 5, 2024 Three years after buying the British high street brands Topshop and Topman from Phillip Green’s collapsed Arcadia empire, Asos has said it will sell 75 per cent of its stake in the brands to a joint venture with Heartland. Asos bought the brands at a buoyant time for the company when its stock was near [...]
Asos sells Topshop and Topman into new joint venture with Heartland September 5, 2024 Online clothing retailer Asos has launched a joint venture with Heartland, whereby Heartland will buy the Topshop and Topman brands from the firm. Asos bought the two brands, along with Topman, Miss Selfridge and HIIT, in 2021 from Philip Green’s collapsed Arcadia group for £265m (excluding stock). The joint venture will grant Asos “certain design [...]
How retailers like ASOS, H&M and Zara are fighting back against ‘serial’ returns September 3, 2024 ASOS has become the latest retailer to change their returns policy as firms increasingly try to fight back on costly high-frequency takebacks – as well as outright fraud. In an email to its premier and non-premier members, the popular fashion giant shared that it would be updating its Fair Use Policy foe “select customers” in [...]
Marks and Spencer: Five charts revealing the remarkable turnaround of a British icon May 25, 2024 Wracked by poor sales figures, rickety online infrastructure and a general identity crisis M&S, the once darling of the British high street has pulled off a remarkable turnaround.
Shein still keen to buy Topshop from Asos April 18, 2024 Fast-fashion disruptor Shein is reportedly still interested in buying Topshop from Asos, the former golden egg of Philip Green’s now collapsed Arcadia empire.
Asos ahead of schedule turning ‘stock into cash’ as revenue drops 18 per cent April 17, 2024 Online retailer Asos said it was ahead of plan with its stock reduction process, as it ploughs ahead with its turnaround plan.