Does ASOS own Topman?
Topman was a UK-based multinational men’s fashion store chain founded by Burton (later renamed Arcadia) in 1978. Along with its women’s clothing counterpart Topshop, Topman was a subsidiary of the Arcadia Group when it went into administration in late 2020. The brand was purchased by ASOS on 1 February 2021.
Is Topman a franchise?
Sir Philip Green’s Arcadia, the parent company of Topshop and Topman has terminated its franchise agreement with its Chinese partner Shangpin.
Is Topman going out of business?
The move comes after the administration filing of Topshop in the UK and its subsequent acquisition by ASOS which was finalized in February. All Topshop and Topman retail spaces in Canada will be shuttered by September 30, 2021 as a result.
Who does BooHoo own?
The BooHoo Group, which owns MissPap, boohooMAN, PrettyLittleThing, Nasty Gal, Warehouse, Oasis, Karen Millen and Coast, also took over Burton, Dorothy Perkins and Wallis following the collapse of the Arcadia Group.
Why is ASOS buying Topshop?
Topshop, Topman, Miss Selfridge, and HIIT generated approximately 60% of their 2020 revenues online. In a letter to investors, ASOS said it bought the brands because they complement its existing portfolio and are established in the US and Germany, with around half of their 2020 sales coming from non-UK markets.
Are all Topshop closing down?
Topshop, Miss Selfridge and Topman websites have all been closed down and redirected to new owners, Asos. Shoppers may get a surprise when they try to buy their favourite jeans on the Topshop website this week, as they will be redirected to the Asos website.
When did Asos buy Topman?
1st February 2021
It was confirmed on Monday 1st February 2021 that ASOS had officially bought Arcadia brands Topshop, Topman, Miss Selfridge and HIIT, resulting in the closure of stores and potentially 2,500 employees sadly losing their jobs in retail overnight.
What is replacing Topshop?
Ikea replaces Topshop as furnishings become high street fashion | Retail industry | The Guardian.
Why is Topshop closing?
At the time, the company admitted the forced closure of stores as a result of the Covid-19 pandemic has had a “material impact on trading.” Asos said its acquisition of the four brands will “resonate” with its core customer base of “20-somethings” in the UK.