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Fast fashion brand Shein has reportedly formally registered its interest in making an offer for Topshop, The Times has reported.
The news comes right after the company acquired Missguided and its intellectual property rights from Frasers Group last week for an undisclosed amount.
Topshop was acquired by Asos for £330m in 2021, following the collapse of Sir Philip Green’s Arcadia retail portfolio.
It is understood that Asos has been mulling over potentially selling Topshop since last month in a bid to shore up its balance sheet, after it reported a near £300m loss in its last financial year.
Last month, Shein also extended its partnership with Forever 21 and Authentic Brands to create a new sub-brand, as it looks for ways to strengthen its fashion credentials.
Asos has been contacted for a comment.
