ASOS PLC Completion of Topshop and Topman joint venture

RNS Number : 5800H

ASOS PLC

09 October 2024

 

FOR IMMEDIATE RELEASE

 

09 October 2024

 

ASOS plc
("ASOS" or the "Company")

 

ASOS announces completion of Topshop and Topman joint venture

 

 

 

Further to the announcement on 5 September 2024, ASOS is pleased to confirm that it has today completed the sale of the Topshop and Topman brands to 24.8.2024 Limited (the "Joint Venture") (the "Transaction").

 

HEARTLAND A/S (through its subsidiary, AKTIESELSKABET AF 24.8.2024) now holds a 75% interest in the Joint Venture, and the remaining 25% is held by ASOS Holdings Limited.

 

Further information

 

There has been no material change affecting any matter contained in the announcement relating to the Transaction released by the Company on 5 September 2024.

 

For more information on the Transaction, use of the proceeds of the Transaction, the background to and reasons for the Transaction, and the licence granted to ASOS.com Limited by the Joint Venture, please see the announcement released by the Company on 5 September 2024.

 

For further information:

ASOS plc
Emily MacLeod, Head of Strategy & Investor Relations	Tel: [phone]
Teneo
Jonathan Sibun / Will Palfreyman	Tel: [phone]

 

About ASOS

ASOS is a destination for fashion-loving 20-somethings around the world, with a purpose to give its customers the confidence to be whoever they want to be. Through its app and mobile/desktop web experience, available in nine languages and in over 200 markets, ASOS customers can shop a curated edit of nearly 50,000 products, sourced from nearly 900 global and local third-party brands alongside a mix of fashion-led own brand labels - including ASOS Design, ASOS Edition, ASOS 4505, Collusion, Reclaimed Vintage, Topshop, Topman, and Miss Selfridge. ASOS aims to give all its customers a truly frictionless experience, with a number of different payment methods and hundreds of local deliveries and return options, dispatched from state-of-the-art fulfilment centres in the UK, US, and Germany.

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