Hopes revive again for Arcadia Group and its brands!
Asos, the British online fashion retailer, is, reportedly, the new contender in the bidding race to acquire the ailing Topshop.
There are reports that the British e-tailer is in a dominant position and could pay as much as £250 million for Arcadia Group’s Topshop. That’s some relief for the Group after Next had pulled out of the race last week.
Topshop is not new to Asos as the latter already sells the brand’s products on it e-commerce platform. However, the e-tailer may not buy any of Topshop stores.
Asos has told Sky News that no deal has been signed as yet with this regard and there was still uncertainty regarding the whole matter.
One just hopes, for the sake of several employees working at Topshop, that the brand gets a new buyer soon.
Meanwhile, Zuber and Mohsin, the billionaire Issa brothers, are also in the race to acquire Topshop, and are, reportedly, in secret talks.
We will update you with all latest developments!