Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
Asos is set to make a series of redundancies across the Topshop, Topman and Miss Selfridge brands, Drapers has revealed.
The redundancies are reportedly set to affect around 38 employees across senior buying, established buying, design and merchandising.
Sources told Drapers that the brand’s employees were informed of the plan on 23 June, with Asos warning staff that a “mix of disciplines will be impacted by the restructuring”. They added that the company will begin a consultation next month.
Reports first emerged from Drapers that Asos was considering a restructuring last week. Commenting on Asos’ takeover of Topshop, which was confirmed earlier this year, a source told Drapers: “It was quite a fast sale. At the time the deal was probably about taking everyone on and then making efficiencies later.”
Last February, Asos confirmed it had acquired the Topshop, Topman, Miss Selfridge and HIIT brands for a total of £265m, following mass speculation that the Arcadia brands would be snapped up by the online retailer.
Following the move, around 300 employees across design, buying and retail partnerships joined the business.
The transaction led to the closure of all Topshop sites, and saw the Arcadia brands brought in-house, with an aim to transform them into “digital first” labels. At the time, Asos noted that they are “strong” consumer facing brands, and it saw a “significant” opportunity to drive further growth for the names globally.
Asos declined to comment on the development.
