Ikea acquires 'Topshop Flagship Store' for £378 million

Ikea acquires 'Topshop Flagship Store' for £378 million
27th October 2021, Mumbai:
IKEA is a Swedish-origin-headquartered global conglomerate that designs and sells ready-to-assemble furniture (DIY), kitchen appliances amongst a host of product categories.

Corporate is acquiring the former iconic Topshop flagship store on London's Oxford Street for a business consideration of GBP378 million. Historically the West End store is considered to be home to Sir Philip Green's flagship Topshop site but was on the block given that parent firm Arcadia Group fell into administration yesteryear.

The deal comes as a testimony for 'Central London' having been battered by the pandemic.

The deal contours are likely to be'" Arcadia Group's complete sell-off of its all assets of, having earlier fallen into administration dating back to November 2020.
IKEA buys former Topshop flagship store in central London for $520 mln |  Reuters

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