LONDON, April 8 (Reuters) – British online fashion retailer ASOS is “highly likely” to acquire more brands, its boss said on Thursday.
In February, ASOS bought the Topshop, Topman, Miss Selfridge and HIIT brands from the administrators of Philip Green’s collapsed Arcadia group for 265 million pounds ($365 million)aiming to accelerate its multi-brand strategy.
“ASOS has got ambitious plans,” CEO Nick Beighton told Reuters after the group published record first half results.
“We’re building our business to be a substantially greater business with a 10-year view…It’s highly likely to achieve those goals we would pick-up some other brands or acquisitions along the way,” he said.
But Beighton said the bar for deals was high.
“It’s got to be fashion, it’s got to be something our 20-somethings care about, it’s got to be a strong return for our (share) holders.” ($1 = 0.7265 pounds) (Reporting by James Davey; editing by Sarah Young)