Home Money Asos sells Topshop to Danish billionaire despite higher offer from Shein

Asos sells Topshop to Danish billionaire despite higher offer from Shein

0 comments
In fashion: Asos revealed it has agreed to sell a 75 percent stake

In fashion: Asos revealed it has agreed to sell a 75 percent stake

Fast fashion giant Asos has sold Topshop to a Danish billionaire despite a higher offer from Chinese rival Shein.

Asos revealed last week that it had agreed to sell a 75 per cent stake in Topshop and Topman to its largest shareholder, Heartland, owned by retail tycoon Anders Holch Povlsen, for £135m.

However, Shein and Authentic Brands Group had made a joint offer of £215.5m, according to the Sunday Times.

Shein has disrupted and stolen market share from Asos and its competitors Boohoo and PrettyLittleThing.

It is considering a £50bn flotation in London, possibly this autumn.

DIY INVESTMENT PLATFORMS

Easy investment and ready-to-use portfolios

AJ Bell

Easy investment and ready-to-use portfolios

AJ Bell

Easy investment and ready-to-use portfolios

Free investment ideas and fund trading

Hargreaves Lansdown

Free investment ideas and fund trading

Hargreaves Lansdown

Free investment ideas and fund trading

Flat rate investing from £4.99 per month

interactive investor

Flat rate investing from £4.99 per month

interactive investor

Flat rate investing from £4.99 per month

Get £200 back in trading commissions

Saxo

Get £200 back in trading commissions

Saxo

Get £200 back in trading commissions

Free treatment and no commissions per account

Trade 212

Free treatment and no commissions per account

Trade 212

Free treatment and no commissions per account

Affiliate links: If you purchase a product This is Money may earn a commission. These offers are chosen by our editorial team as we believe they are worth highlighting. This does not affect our editorial independence.

Compare the best investment account for you

You may also like