Much-loved fashion brand could be sold AGAIN – leaving its future as a label at risk

A MUCH-loved fashion brand that left the high street and moved online could be sold once again – putting its future as a label at risk.

ASOS is exploring the potential to sell off its ownership of Topshop less than two years after it bought the brand.

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A potential disposal of the brand is one of the options being examined by ASOS boss, Jose Antonio Ramos Calamont, to help shore up the company’s ailing results, Sky News reports.

It was unclear whether any talks are already taking place with potential buyers.

Any sale is not certain to proceed, and it was unclear how much ASOS might raise from selling the brand.

Shoppers can continue to shop Topshop and Topman-labelled clothing online at ASOS as normal.

The Sun has reached out to ASOS for comment.

The company, which has seen its shares plunge by 40% over the last year, bought Topshop, Topman, Miss Selfridge and HIIT brands in February 2021 after the collapse of Philip Green’s Arcadia Group.

ASOS paid £330million for the brands but the deal didn’t include the physical shops, which meant 2,500 retail staff faced redundancy.

Arcadia Group collapsed into administration on November 30, 2020, leaving roughly 13,000 people out of a job.

At the time, Sir Philip’s stores were hit by fierce competition from online retailers ASOS and Boohoo.

The ASOS group boomed during the pandemic but overhauled its business model last October after an economic downturn and operational problems hammered its profits and its shares.

The online retailer said this week that it expected second-half adjusted earnings of more than £38 million after it postponed Wednesday’s planned publication of its annual results until Nov. 1

Previous forecasts had projected half-year earnings at the “lower end of the guided range of £40 million and £60 million”.

The plan of chief executive, Jose Antonio Ramos Calamonte is to prioritise profit over top-line growth.

He is reducing the amount of stock ASOS carries and refreshing ranges more quickly while cutting costs and improving its cash position.

This post first appeared on thesun.co.uk