British e-commerce company ASOS acquires four Arcadia brands for £265 million

It is reported that British online fashion retailer ASOS announced yesterday that it has completed the acquisition of Arcadia Group 's four major brands , including Topshop , Topman , Miss Self Selfridge and HIIT, for 265 million pounds .

Arcadia Group went bankrupt in November due to heavy debts, and many of its brands were forced to be auctioned . ASOS and its competitor Boohoo have both shown strong interest in Arcadia . Currently, Boohoo has entered into exclusive negotiations with Arcadia to acquire the Dorothy Perkins , Wallis and Burton brands. If an agreement is reached, ASOS and Boohoo will complete the separation of Arcadia .

  In this acquisition, ASOS did not acquire Arcadia 's 70 physical stores , but focused on developing its online business and expanding the number of brands on its platform. The head of ASOS said: " The acquisition of these iconic British brands is a very exciting moment for ASOS and our customers, which will help accelerate our multi-brand platform strategy. "

He added : " ASOS has been promoting the development of the online platform, and expanding the number of brands is what we have always done. " It is reported that after the completion of the acquisition, more clothing series of the four major brands will appear on the ASOS website, and the first batch of Topshop and Topman products designed by Asos are expected to appear later this year.

It is understood that the customer groups of the four acquired brands are the same as ASOS 's core customer groups in the UK, all of which are consumers in their 20s . The acquisition is expected to be completed later this week, and Topshop , Topman and Miss Selfridge's websites will redirect customers to ASOS starting from Wednesday evening or Thursday morning this week .

ASOS was founded in 2000 and has grown rapidly , with a market value of £4.47 billion today . ASOS has been pushing the development of their online business . For more than a decade, ASOS has been reshaping the retail and clothing industries .

During the epidemic, ASOS achieved a great breakthrough, with sales and profits soaring and 3 million new customers. Currently, ASOS has 23.4 million customers and profits in the UK exceeding 7 million; its global online sales increased by 19%, and pre-tax profits increased by 329% to 142.1 million pounds.

Thanks to the rapid development of online business during the epidemic, ASOS has expanded rapidly and acquired many brands. In 2021, ASOS will continue to ride the wind and waves.

U.K.

E-commerce

Asos