BooHoo has reasons to be cheerful – but Asos is on track for the top prize
The IndependentKnocked out of the battle for TopShop, there were no tears from BooHoo which started the week with a bang by announcing that it had secured a consolation prize in the form of Debenhams. BooHoo’s fast fashion rival Asos is set to pay a lot more for TopShop, with talk of as much as £300m doing the rounds. Moreover, with BooHoo having nearly £400m in cash on its books, the purchase price represents so much small change, especially when you consider that it doesn’t have to worry about the stores, stock or Debs’ financial services business. The plans are for the brand to be relaunched on BooHoo’s platform early next year, after the existing business has been wound up. Asos got the 2019 Black Friday event badly wrong, underestimating its rivals’ price cuts and getting hammered as a result.
History of this topic
What could be better than reviving Boohoo? Bring back Topshop instead!
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What’s gone wrong at Asos – and can its identity crisis be fixed?
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Asos Sees Higher Profit Next Year as Turnaround Gains Ground
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Fast fashion retailer ASOS struggles to engage consumers as company losses balloon
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Frasers Group increases stake in Boohoo to 9.1%
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Kourtney Kardashian says backlash to her fast fashion collaboration was ‘exactly what I was hoping for’
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Asos, Boohoo and Asda investigated over ‘greenwashing’ fast fashion claims
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Asos’ Topshop sale: Deals on loungewear and leather jackets
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Boohoo: Amazon drops UK company over worker exploitation claims
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The Asos bounce shows fast fashion isn’t dead yet
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Animal print, dad trainers and tiny sunglasses: ASOS reveals the most popular fashion trends of 2018
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Asos shares plummet 40% as UK high street turmoil spreads to online retailers
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