Shein reportedly mulling Topshop bid
The UK-based potential bidders for TopshopShein
It has formally registered its interest in making an offer with ASOS, which acquired the business in 2021 for a total price of £330 million in the wake of the Arcadia collapse.
Shein, which is best known for its own ultra-affordable fashion brand, has been increasingly striking deals to sell other brands on its platform, such as Forever 21Missguided
But it’s interesting that a source told The Times that “Shein would not be a preferred bidder for Topshop” with the individual having the impression that “the person leading the sale process [at ASOS] is not keen on Shein”.
Shein is known for its low prices and fast trend response, but it has also been heavily criticised for working conditions in supplier factories.
Other potential bidders are likely to include big UK names such as serial acquirers Frasers Group or NextAuthentic Brands Group
