One of the biggest online shops in the world ASOS has taken the main decision to buy Topshop. The power of this huge brand has continued to increase over these past years and they surely won’t stop there.
It is understood that the sales talks are focused on the Topshop brands only, and do not include the bricks and mortar retail estate.
Topshop can be described as an iconic brand of the UK. Indeed, you can find it in many high streets across the country. Moreover, it was quite a habit for teenagers to go on a Sunday afternoon to grab a coffee and doing some shopping at Topshop.
These days though, the Gen Z community have been raised with importance access to new technologies and to the development of the online fashion sale so having the possibilities to buy anything they want on the net has been a good thing.
Today, more and more people are doing their shopping online to make it easier and faster, epecially with the pandemic, and with Topshop suffering from the lockdown, ASOS has not wasted any time and jumped on the opportunity to add another string to its bow by acquiring Topshop for £250 million.
According to ASOS: “The board believes this would represent a compelling opportunity to acquire strong brands that resonate well with its customer base“.
With this big news, ASOS has made a huge impact on the fashion sector!