ASOS strikes £295m deal to buy four brands from the failed retail group Arcadia. ASOS is buying the Topshop, Topman, Miss Selfridge and HIIT brands but not their shops. The acquisition will be set out in two parts – ASOS is paying £265m for the brands and a further £30m for the stock. The acquisition of these iconic British brands will help to accelerate ASOS’ multi-brand platform strategy and aligns with ASOS’ mission to become “the number one destination for fashion-loving 20-somethings throughout the world”. Administrators Deloitte expect the deal to complete in February.