, APAC
224 views
Shutterstock photo

ASOS sells 75% stake in Topshop and Topman to Heartland

This is part of ASOS' broader refinancing efforts.

ASOS is selling a 75% stake in Topshop and Topman to Heartland, the investment firm behind fashion brands like Vero Moda and Jack & Jones, as part of its refinancing efforts, GlobalData reported.

Pippa Stephens, senior apparel analyst at GlobalData, said the deal offers a chance for Topshop and Topman to regain popularity. Since ASOS acquired the brands in 2021, they have struggled to stand out amongst ASOS's extensive product range. 

“The relaunch of their own dedicated websites and increased accessibility through wholesale partners, both online and offline, should help to bolster their visibility and regain appeal,” he said.

Topshop and Topman, which were highly popular from the 1990s through the late 2010s, saw their desirability decline under Arcadia’s ownership and further diminish after ASOS took over. Stephens believes Heartland's fashion expertise, demonstrated by the growth of its Bestseller group, positions it well to breathe new life into the brands.

The analyst said Heartland's fashion experience could revive the brands by focusing on better designs and quality.

This sale also underscores ASOS's ongoing difficulties, Stephens noted.

The retailer expects a sales decline of up to 15% by September 2024, as it loses ground to cheaper competitors like Shein and Cider, and millennials move to premium brands. 

Despite these challenges, ASOS hopes its "Back to Fashion" strategy and faster production model will help it stay competitive.

Swarovski menguasai TikTok untuk perluas skala luxury di kalangan Gen Z

Produsen Kristal asal Austria ini bekerja sama dengan influencer untuk menjangkau pasar Singapura.

Dear Me Beauty berencana membuka flagship store

Store ini dapat menjadi fondasi bagi pertumbuhan pasar yang lebih luas.

Kawan Lama Indonesia mengaburkan batas antara belanja online dan offline

Pengunjung  platform e-commerce grup, Ruparupa.

Mal-mal di Filipina menarik pengunjung dengan pengalaman liburan yang lengkap

Pengunjung diperkirakan akan datang setelah jam kantor hingga larut malam.

Urban Revivo membuka cabang terbesar di Bangkok

Peritel fast fashion asal Cina ini membuka toko seluas 3.

Samsonite memanfaatkan data untuk tingkatkan penjualan

Produsen koper asal AS ini meningkatkan saluran daring untuk mendorong pendapatan di Asia Tenggara.

Belanja hyper-personalisasi jadi tren utama di Asia Tenggara

Data dan analitik memungkinkan brand mengoptimalkan pengalaman shopper baik secara daring maupun di toko fisik.

SSI Group meningkatkan investasi dalam ritel terpadu

Perusahaan yang menaungi brand-brand seperti Hermes dan Cartier ini sedang menyempurnakan omnichannelnya.

Peritel Asia-Pasifik manfaatkan subscriber untuk dorong pertumbuhan

Subscription menjadi sumber pendapatan yang stabil selama masa penurunan ekonomi.