Topman news and archive

Asos completes Topshop and Topman sale

British e-tailer Asos has announced the completion of its sale of the Topshop and Topman brands to Heartland A/S as part of a joint venture with the holding company. The Danish firm, via its subsidiary Aktieselskabet AF 24.8.2024, now holds a 75 percent interest in the joint venture, with Asos Holdings Limited retaining the remaining 25 percent....

ManagementFeatured

Asos sells majority stake in Topshop and Topman

Online retailer Asos has sold a majority stake in Topshop and Topman in a new joint venture deal with Heartland, the holding company representing the interests of the Holch Povlsen family and their family business Bestseller. The joint venture will grant Asos “certain design and distribution rights” for the Topshop and Topman brands in return...

BusinessFeatured

Asos reveals rejuvenated visual identity for Topshop and Topman

Since its acquisition of Arcadia-owned labels in 2021, online retailer Asos has set out on expanding and rejuvenating the brands for its own platform and shoppers. Now, the company has revealed a new visual identity for both Topshop and Topman, which will be featured on the brands’ standalone digital shop fronts on the retailer’s website. It...

ManagementFeatured

Asos cuts profit outlook

Asos reported quarterly sales growth of 4 percent in the three months ended 31 May against a prior comparative growth rate of 47 percent reflecting P3 gross sales growth broadly in line with expectations. The company has updated guidance for the year to reflect uncertain consumer purchasing behaviour and the potential continuation of higher...

ManagementFeatured

Asos posts sales and profit growth, CEO Nick Beighton steps down

For the year to August 31, 2021, Asos plc reported total sales growth of 22 percent to 3,910.5 million pounds. The company said that growth was underpinned by exceptional performance in the UK which grew at 36 percent, whilst internationally sales growth in both the EU and US was 15 percent and 21 percent, respectively, reflecting the wholesale...

Management

Nordstrom buys stake in four Asos brands including Topman, Topshop

Asos has formed a joint-venture with US-based multi-channel retailer, Nordstrom, which will invest for a minority interest in the Topshop, Topman, Miss Selfridge and HIIT brands. The company said in a release that this joint-venture will help drive the growth of these brands and paves the way for exploration of a new wider strategic partnership...

Retail

Asos expands Topshop and Topman ranges

Asos doubles Topshop and Topman offering, following its purchase of the two brands from Arcadia, and is launching a two-week international targeted customer awareness campaign. Topshop and Topman have been stocked on Asos since 2019 and the e-tailer is looking to inform customers of both brands that they can now shop from Asos following its...

Report

Topshop, Topman creditors owed 176 million pounds

Topshop and Topman creditors are reportedly facing losses of 176 million pounds following the collapse of Arcadia late last year, more than double the amount administrators previously estimated. Overseas suppliers and property owners are among those hardest-hit, while gift card holders are 4.5 million pounds out of pocket, according to documents...

Management

Asos acquires Arcadia labels for 265 million pounds

British online retailer Asos has announced the acquisition of Topshop, Topman, Miss Selfridge and HIIT brands for 265 million pounds. The company said that the transaction is fully cash funded from existing cash reserves. Additionally, Asos will purchase 30 million pounds of stock upfront to support initial trading before these brands are...

Report

Arcadia separates Topshop and Topman logistics from rest of group

Arcadia has reportedly separated the logistics operations for Topshop and Topman from the rest of the group’s fashion brands. The Philip Green-owned group has opened a new automated warehouse dedicated to processing orders for Topshop and Topman in Daventry, Northamptonshire, according to The Times. Topman orders are reportedly already being...

Retail

Topman to relaunch house brands as part of Autumn 2019 strategy

Topman has outlined a new strategy for Autumn 2019 which will see it relaunch its in-house brands and reduce its pricing structure by 10 percent. The Arcadia-owned group announced it will re-launch a number of in-house brands helmed by its recently-appointed trading director, Mitch Hughes. Eleven new concession brands including Hermano and...

Report

US landlords drop challenges against Arcadia CVA

Arcadia Group is set to move forward with its restructuring plans after two US landlords dropped challenges against two of its company voluntary arrangements (CVAs). The decision came following “significant and constructive dialogue” with the two landlords, Arcadia said in a statement on Tuesday. Ian Grabiner, CEO of Arcadia Group, said: “With...