ASOS Sells Majority Stake in Topshop to Danish Firm Heartland for £135m

The deal aims to improve ASOS's financial position and could see Topshop return to physical stores.

ASOS will retain a 25% stake in Topshop under a new joint venture with Heartland.
The sale is expected to generate £118 million in net proceeds for ASOS.
Topshop, acquired by ASOS in 2021, has struggled amid stiff competition and financial losses.
Shares in ASOS rose sharply following the announcement, reflecting investor optimism.
Heartland, owned by Danish billionaire Anders Holch Povlsen, will now control the majority stake.