Here’s one more bigwig that is eyeing the assets of Arcadia Group!
G-III Apparel, the American apparel company known for designing and manufacturing apparels for men and women, is the latest to bid for the collapsed British retailer’s assets.
As per media reports, the American retailer is keen to buy brands such as Topshop and Dorothy Perkins. Here it is important to mention that American retailer Authentic Brands as well as British retail giants like Next and Boohoo are also in the race to acquire the assets of the Group.
Also Read: Next in talks to takeover Arcadia
It was only last month that Arcadia had sold its Evans brands to Australian apparel company City Chic Collective for £23 million.
Also Read: Arcadia sells Evans to Australian clothing firm for £23 million
Ever since Arcadia Group collapsed into administration in November 2020, its administrators at Deloitte have been searching for buyers following which several retailers have shown interest to buy its assets.
G-III Apparel is the first in 2021 to bid for the Group’s assets. Notably, G-III Apparel has fashion licenses under the Calvin Klein, Tommy Hilfiger, Karl Lagerfeld, Kenneth Cole and many such big brands.
Meanwhile, Topshop, the flagship brand of the Arcadia Group, is expected to be sold for anything over £200 million from an auction that may conclude very soon.
Stay connected with us to know who wins the race!
