The online fashion and cosmetics retailer has been valued at just over £5bn and the stock has risen 13 per cent.
The news comes following ASOS’ recent acquisition of four brands from Sir Philip Green’s Arcadia Group, including Topshop, Topman, Miss Selfridge and HIIT in a deal worth £330M. Since this acquisition at the beginning of February, ASOS stock has risen 12 per cent. ASOS paid for the four brands’ goodwill and stock on hand, whilst also taking certain liabilities for pre-committed stock orders.
It has been confirmed that at least 300 employees will be transferred to ASOS but the brand’s stores will be closed placing 2,500 jobs at risk.
