25-04-2025
Topshop's return to UK high street set to boost Asos' performance
Asos has announced as part of its H1 2025 financial results that it has spent the period rebuilding its engagement with Topshop and Topman customers and ramping up its brand activity with events and experiences.
It published an Instagram social post last month (March) that read 'we missed you too,' which created a buzz about the prospect of the brand's return to the UK high street.
Asos has now confirmed that "through a select range of wholesale partners" it will be bringing "the best" of Topshop and Topman to customers by the end of FY25.
It added that it also plans to launch a dedicated website for the brand —
It is five years since Topshop and Topman's parent company Arcadia went into administration and four years since online fashion retailer Asos took it out of administration, but made it online-only.
GlobalData's senior apparel analyst Pippa Stephens sees Topshop as one of the key initiatives that could improve Asos' future performance.
She tells Just Style: 'The most notable is the relaunch of Topshop and Topman, which Asos still has a 25% stake in, with standalone websites launching in H2, and the brands' social media pages hinting at a possible return of physical stores."
She adds: "These brands currently get lost among Asos' wide product range, so this should help to bolster their visibilities and appeal once again."
Asos continued to struggle in the first half of fiscal year 2025 (H1 2025) with revenue down 13%, however its turnaround plan was starting to show some green shoots in terms of its profitability.
Asos CEO José Antonio Ramos Calamonte said: 'H1 FY25 is the strongest sign yet that our new commercial model is working. We are driving a significant transformation in profitability, with positive adjusted EBITDA up by c.£60m YoY.'
However, the fashion retailer also disclosed total group revenue of £1.30bn for H1 FY25, which was a 13% decrease from its £1.51bn in the prior year. Total like-for-like (LFL) sales also dropped by 13%.
"Topshop's return to UK high street set to boost Asos' performance" was originally created and published by Just Style, a GlobalData owned brand.
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