Shein has formally registered its interest in making an offer for Topshop.
It comes on the back of Shein’s acquisition of Missguided and intellectual property rights from Frasers Group last week for an undisclosed sum.
Asos snapped up Topshop for £330m back in 2021 from Sir Philip Green’s collapsed Arcadia retail empire.
It emerged late last month that Asos was considering selling Topshop as it looks to shore up its balance sheet after it posted a near-£300m loss in its last financial year.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
A source told the Times that Shein would not be a preferred bidder for Topshop, adding that their sense “is the person leading the sale process [at Asos] is not keen on Shein”.
As the online giant looks to strengthen its fashion credentials, last month Shein extended its partnership with Forever 21 owner Authentic Brands to create a new sub-brand,
The move will see Chinese fast fashion giant design, manufacture and distribute a line of Forever 21 clothing and accessories including sportswear, activewear and swimwear.
Click here to sign up to Retail Gazette‘s free daily email newsletter
