March 29, 2024

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ASOS may well click on with on the internet elegance platforms Cult and Feelunique | Organization News

2 min read

ASOS, the online fashion retailer, is checking out possible bids for two major on the web attractiveness platforms as it carries on to diversify its product vary outside of clothes.

Sky Information has learnt that ASOS is among the feasible suitors for Cult Elegance and Feelunique, both equally of which have been set up for sale by their existing house owners.

City resources explained that a formal bid from the London-detailed team for either company remained an unsure prospect, and that it was only predicted to pursue 1 – if both – of the two targets.

Stock is being cleared by staff at the High Wycombe branches of Topman and Topshop
Picture:
ASOS earlier this year purchased the Topshop and Topman brand names

If 1 did materialise, on the other hand, it would underline ASOS’s fascination in increasing its existence in the magnificence group soon after revealing in its 50 %-year benefits in April that confront and system products profits had developed by a record 114%.

Both of those Cult Elegance and Feelunique are doing the job with advisers on sale processes as they look for to capitalise on rising desire from on the web prospects throughout the coronavirus pandemic.

The two firms could command valuations in the lower hundreds of millions of lbs ., according to banking resources.

A takeover of possibly platform by ASOS would depict a different crucial acquisition from the organization subsequent its £330m buy of the TopShop and TopMan brands from the directors to Arcadia Group before this calendar year.

Sector insiders say that other strategic gamers in the on-line splendor sector, together with THG Holdings, dad or mum of The Hut Team, and German-centered rival Zalando are also anticipated to appraise delivers for Cult Natural beauty and Feelunique.

Bids are comprehended to be because of for the two firms in the coming months.

An ASOS spokeswoman declined to comment.

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