ASOS acquires “iconic” Arcadia brands in £265m deal

Online retailer ASOS has announced it has acquired the brands of fashion group Arcadia in a multi-million pound deal.

The firm has confirmed it has purchased Topshop, Topman, Miss Selfridge and Burton’s HIIT brand for £265m.

The acquisition is expected to support the company’s continued growth across its key markets including the UK, US and Germany.

The news follows Arcadia’s fall into administration last year, as well as expressions of interest from rival online platform boohoo in acquiring the brands.

Nick Beighton, ASOS CEO, commented: “We are extremely proud to be the new owners of the Topshop, Topman, Miss Selfridge and HIIT brands.

“The acquisition of these iconic British brands is a hugely exciting moment for ASOS and our customers and will help accelerate our multi-brand platform strategy.

“We have been central to driving their recent growth online and, under our ownership, we will develop them further, using our design, marketing, technology and logistics expertise, and working closely with key strategic retail partners in the UK and around the world.”