The online fashion retailer has confirmed that it is in ‘exclusive talks’ with Arcadia’s administrators to acquire Topshop, Topman, Miss Selfridge and HIIT.
Since Sir Philip Green’s Arcadia Group fell into administration last November, there has been a number of brands, most notably, Frasers Group, Authentic Brands Group with JD Sports and boohoo, that have displayed an interest in purchasing the group in its entirety or its brands. Last week, a consortium including Next and David Kempner dropped out of the race for the group after being unable to offer the asking price for Topshop.
ASOS has commented that “the Board believes this would represent a compelling opportunity to acquire strong brands that resonate well with its customer base.”
As of yet, it remains unclear whether ASOS will be successful in their exclusive talks with administrators to acquire the brand, however the online retailer has confirmed that any acquisition would be funded from cash reserves.
