ASOS has agreed to sell its Topshop brand to a new joint venture to be formed with the holding company of Danish fashion store billionaire Anders Holch Povlsen, the British online retailer said today.

RTÉ

Ireland

ASOS to sell Topshop to new joint venture with Heartland

The online retailer is to set up a joint venture to offload 75% of its ownership in the brands, which have not operated physical stores since 2021.

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The Independent

Evgeny Lebedev

London

Greater London

England

United Kingdom

Asos hives off 75% stake in Topshop and Topman to Danish firm Heartland

Government of Ireland

Asos is to offload 75 of its stake in the Topshop and Topman brands, in a deal which values them at £180 million.

Bournemouth Echo

Gannett

Bournemouth

Dorset

Asos sells majority stake in Topshop and Topman

Online clothing retailer Asos has launched a joint venture with Heartland, whereby Heartland will buy the Topshop and Topman brands from the firm. Asos bought the two brands, along with Topman, Miss Selfridge and HIIT, in 2021 from Philip Green’s collapsed Arcadia group for £265m (excluding stock). The joint venture will grant Asos “certain design and distribution rights” for the Topshop and Topman brands in return for a royalty fee, enabling it…

City AM

Asos sells Topshop and Topman into new joint venture with Heartland

The web portal of Topshop and Topman, once considered among the UK’s leading clothing retail brands, is to be relaunched after owner ASOS sold a majority stake in the brands for £135 million. The deal will see Danish clothing group Heartland, parent company of Bestseller, hold 75% of the joint venture, with ASOS plc holding the remaining 25%. Topshop.com went offline in 2020 after the business entered administration. ASOS acquired the Topshop, T…

BusinessCloud.co.uk

Topshop site to relaunch as ASOS sells majority stake for £135m

Asos is launching a joint venture with Denmark’s Heartland group to purchase the Topshop and Topman brands - is it time to buy?

MoneyWeek

Asos shares jump 20% after agreeing to sell Topshop and Topman brands

headlinemoney.co.uk

Markets calmer after recent sell-off, EasyJet escapes FTSE 100 relegation, Royal Mail in potential Ofcom breakthrough, ASOS sells Topshop stake, Primark reveals soggy sales, Jet2’s visibility clouded

Drapers Asos sells Topshop to Heartland amid refinancing
Asos has sold a majority stake in Topshop and Topman for £135m to form a joint venture with Heartland, which represents the Holch Povlsen family and their family business Bestseller.The post Asos sells Topshop to Heartland amid refinancing appeared first on Drapers.

Drapers

Asos sells Topshop to Heartland amid refinancing

Topshop and Topman, once among the UK’s most iconic clothing brands, are set for a comeback as their website is relaunched following ASOS’s sale of a majority stake in the brands for £135 million. Danish clothing group Heartland, the parent company of Bestseller, will hold a 75% stake in the joint venture, while ASOS will retain the remaining 25%. Topshop.com went offline in 2020 after the Arcadia Group, then owned by Philip Green, entered admin…

ASOS to sell Topshop to new joint venture with Heartland

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