Topshop could return to high street after Asos sells stake for £135m
by Sarah Butler from World news | The Guardian on (#6QG4S)
Online fashion retailer hands control of brand to Jack & Jones owner with sale of 75% stake to help repay debts
Topshop and Topman could return to the high street after Asos handed control of the fashion brand to the billionaire behind Vero Moda and Jack & Jones in a 135m deal.
The online fashion seller said it had sold a 75% stake in Topshop, the group it bought just over three years ago for 330m, to Heartland, an arm of Bestseller, the Danish fashion business controlled by the major Asos shareholder Anders Povlsen.
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