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Who bought Topshop? ASOS owner, net worth and what the brand stands for as takeover completes
1 February 2021, 11:40
Who owns ASOS and what's his net worth? And what does ASOS actually stand for? Here's the latest questions as Arcadia brands Topshop, Topman and Miss Selfridge are bought by online fashion retailer.
Arcadia has confirmed the sale of three brands, Topshop, Topman and Miss Selfridge, to online fashion retailer ASOS following the collapse last November.
It reports ASOS owner, Anders Holch Povlsen, has bought the three biggest Arcadia brands in a deal worth around £330million that doesn’t include the highstreet stores, putting thousands of jobs at risk.
ASOS said its acquisition of the four brands will "resonate" with its core customer base of "20-somethings" in the UK.
As the Topshop takeover deal comes to an end this week, customers are taking a closer look at ASOS including who owns it and their net worth, what ASOS stands for, and what has been said about the deal. Here are the facts:
Who owns ASOS and what’s their net worth?
ASOS is owned by Danish billionaire Anders Holch Povlsen who, according to Forbes, has a staggering net worth of of $12.2billion.
Despite being the largest individual private landowner in the UK, he also owns Bestseller which includes ASOS, Jack&Jones and Vera Moda.
What does ASOS stand for?
ASOS stands for ‘As Seen On Screen’, although it’s hardly every recognised for this slogan.
What has ASOS said about the Topshop takeover so far?
Despite the loss of the highstreet store and the thousands of jobs that will happen along with it, ASOS’ Chief Executive Nick Beighton said its a proud moment for ASOS.
He commented: "We are extremely proud to be the new owners of the Topshop, Topman, Miss Selfridge and HIIT brands.
"The acquisition of these iconic British brands is a hugely exciting moment for ASOS and our customers and will help accelerate our multi-brand platform strategy.
“We have been central to driving their recent growth online and, under our ownership, we will develop them further, using our design, marketing, technology and logistics expertise, and working closely with key strategic retail partners in the UK and around the world."