Asos sells Topshop stake for £135m to help repay debts
Online fashion retailer’s sale of 75% stake to Jack & Jones owner could bring store back to the high streetBusiness live – latest updatesAsos has sold a majority stake in Topshop for £135m in a deal that will help it repay debts and could see the brand return to the high street, as fashion retailers struggle after a soggy summer.The online fashion seller said it had sold a 75% stake in Topshop, the group it bought just over three years ago for £330m, to Heartland, an arm of Bestseller, the Danish fashion business controlled by the major Asos shareholder Anders Povlsen. Continue reading...
Online fashion retailer’s sale of 75% stake to Jack & Jones owner could bring store back to the high street
Asos has sold a majority stake in Topshop for £135m in a deal that will help it repay debts and could see the brand return to the high street, as fashion retailers struggle after a soggy summer.
The online fashion seller said it had sold a 75% stake in Topshop, the group it bought just over three years ago for £330m, to Heartland, an arm of Bestseller, the Danish fashion business controlled by the major Asos shareholder Anders Povlsen. Continue reading...
