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ASOS Contemplates Selling Topshop Brand Amidst Financial Struggles, Revealing New Opportunities

ASOS Contemplates Selling Topshop Brand Amidst Financial Struggles, Revealing New Opportunities

ASOS, the online fashion retailer, is considering selling the Topshop brand as part of its turnaround plan. This move comes less than three years after ASOS acquired the brand from the collapsed retail empire of Sir Philip Green. The potential sale is still in its early stages, and it is uncertain how much ASOS could raise from selling the brand. This decision is being examined by Jose Antonio Ramos Calamonte, the CEO of ASOS, who has been focused on improving the company’s operating performance and reducing costs. ASOS has faced challenges due to inflation and declining consumer spending power. The company has already reduced its stock by 30% and refinanced some of its borrowings. ASOS will publish its delayed full-year results next week, and the potential sale of Topshop is one of the options being considered.

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