Shein eyes Topshop bid
Fat-fashion retailer Shein has formally registered its interest in acquiring fashion brand Topshop.
However, a source told The Times that the person leading the sales process of Topshop is “not keen” on Shein.
In October, it was reported that Topshop’s owner ASOS was considering a sale of the brand as it looked to turnaround its struggling fortunes. ASOS had posted a near-£300m loss in the previous financial year.
ASOS had purchased the Topshop brand alongside Topman, Miss Selfridge, and HIIT in February 2021 in a deal which reached a value of £330m.
A purchase of the Topshop brand could see it make its return to UK high streets after it fell into administration in 2020.
The news follows Shein’s recent acquisition of Missguided and its intellectual property rights from retail giant Frasers Group. Last month, Shein also extended its partnership with Authentic Brands, the owner of Forever 21.