ASOS launches a new campaign for the UK, US and Germany from Monday to mark a wider range of Topshop/Topman products available on site following its purchase of the two brands after the Arcadia failure.
Boohoo has concluded a deal to buy the remaining Arcadia brands that hadn’t been take over by ASOS and City Chic. It’s paying £25.2m to acquire the three “British heritage brands” out of administration.
ASOS has bought Topshop, Topman, Miss Selfridge and HIIT and will move fast to integrate them into its set-up. It said it's an attractive opportunity and they saw fast sales growth on its platform in the latest period.
A very short statement from Boohoo Group on Friday confirmed that yes, it is interested in buying the remaining brands owned by failed Arcadia, a move that means the entire Arcadia empire going online-only.
The size of debt that forced Arcadia into administration was revealed Wednesday: £750 million. However, the group’s administrator Deloitte warned the final figure was expected to be "materially higher”.
It may be just a small crumb of comfort given the thousands of Arcadia staff whose jobs are under threat, but there's talk that if ASOS buys its brands, it could retain the Topshop flagship at Oxford Circus, London.