Bestseller acquires 75% of Topshop and Topman from Asos for 159 million euros

Bestseller, a Danish fashion group owned by billionaire Anders Holch Povlsen, has acquired a 75% majority stake in Topshop and Topman from Asos for £135 million (€159 million). Asos, which retains a 25% share, will continue to sell both brands through its e-commerce platform. Bestseller, which manages brands such as Jack&Jones, Vero Moda, and Only, adds Topshop and Topman to its growing portfolio, further strengthening its presence in the fashion industry. This transaction aligns with Asos's strategic goals to improve financial stability after facing profitability challenges. Bestseller, through its parent company Heartland, had previously partnered with Asos in 2021 to purchase the brands, following the collapse of the Arcadia Group.

This acquisition provides Bestseller control over product development, brand strategy, and the distribution of Topshop and Topman. Bestseller’s chief executive, Mogens Werge, emphasized that the company plans to enhance the brand's global presence while maintaining its distinct identity. The deal also marks a shift in Bestseller’s strategy, as the company traditionally focused on privately owned brands.

For Asos, selling the stake in Topshop and Topman represents a significant step in their efforts to streamline operations and reduce their debt burden. Although Asos will no longer have control over the brands, it expects to benefit from ongoing sales of Topshop products on its platform. The financial impact of the sale will be reflected in Asos’s fiscal results for 2025.

The move signals Bestseller’s ambition to further penetrate the high street fashion market, which has experienced significant transformation in recent years due to the rise of e-commerce and the challenges brought by the COVID-19 pandemic. Topshop, once a dominant force in the fashion world under Arcadia, is expected to benefit from Bestseller’s operational expertise and investment.