Market News
Recent Developments
New product launches
- In May 2021, a online fast fashion retailer, Boohoo launched a new sustainable ready-to-wear collection made using recycled polyester. The move aligns with the company's aim to build a more sustainable business.
- In September 2020, Asos which is a online fashion and cosmetic retailer launched its first circular fashion collection in partnership with the Centre for Sustainable Fashion. The collection featured long-lasting pieces made using recycled fabrics.
- In February 2020, Zalando launched its dedicated Pre-Owned category to promote circular fashion. Customers can buy and sell secondhand fashion items.
Acquisition and partnerships
- On October, 31, 2023, Shein, the ultra-fast fashion giant, has made a bold move by acquiring Missguided, a struggling U.K.-based brand. This strategic acquisition marks several firsts for Shein: its entry into the U.K. through a brand purchase, and its potential to become a major player in the highly competitive apparel landscape.
- In February 2021, Asos has confirmed its acquisition of Arcadia's brands, including Topshop, Topman, Miss Selfridge, and HIIT, in a deal that will generate over US$ 380.07 million for Philip Green's insolvent group's creditors. As part of the transaction, Asos will pay US$ 335.73 million for the brands and an additional US$ 38.01million for existing inventory while honoring US$ 44.34 million in forward purchase orders. Approximately 300 of Arcadia's 13,000 employees will transition to Asos, primarily in design and product-related roles. Notably, the deal excludes Arcadia's 70 stores, including the flagship Topshop store on Oxford Street.
- In June 2020, online fast fashion retailer Boohoo acquired the online operations of Oasis and Warehouse, expanding its portfolio of brands targeting a slightly older demographic
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