Rumor says that online fashion retailer Boohoo is looking to acquire some of Arcadia’s brands
According to Ecommerce News, ASOS has bought Miss Selfridge, Topman, HIIT, and Topshop.
The four brands are from Arcadia, a retail group that fell into administration in 2020 after struggling for a long period. While ASOS will be in charge of the brands and stock, it will not acquire the physical stores.
ASOS is paying £300 million and £34 million for the brands and accompanying stocks respectively. The acquisition will help ASOS multi-brand platform blueprint.
The company aims at driving the brands’ online growth. It will use its marketing, design, logistics, and technology expertise as well as closely work with major strategic retail partners globally.
Arcadia sold its brand, Evans to City Chic in December. As to those Arcadia brands that have not been sold, they include Burton, Dorothy Perkins, and Wallis.
We’ve reported that UK-based online fashion retailer Boohoo acquired Debenhams for £55 million in a deal that will close the remaining retail store.