ASOS and Boohoo battle with Next for a cut of Green’s fallen empire
Sir Philip Green, a long-standing sceptic about online fashion and technology in general, refused to sell clothes from his flagship Topshop brand on ASOS until two years ago.
The controversial retail tycoon repeatedly wrote off the fast-fashion website over the years and the opportunities heralded by internet shopping, and missed several chances to buy Asos.
Last week, the £4.7bn online retailer was closing in on a deal to take over Topshop, Topman, Miss Selfridge and the HIIT sports brand, fending off competition from heavyweights Next and the expanding American empire Authentic Brands.
Nick Beighton, ASOS chief executive, battled for control of Topshop to ensure it does not fall into rival hands, losing a lucrative part of his business.
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