Heartland Acquires 75% Stake for £135m, Asos Holds 25%

  • H&M relaunches Cheap Monday with new denim collection featuring American artist Nessa Barrett
  • Asos becomes an exclusive retailer for the brand
  • Collection includes various denim styles such as skinny fit and western bootcut jeans
  • Heartland acquires 75% stake in Cheap Monday for £135m, Asos holds remaining 25%
  • Cheap Monday originally closed in 2018 due to poor sales

H&M has revived the Cheap Monday brand with a new denim collection in collaboration with American artist Nessa Barrett. Asos will be the exclusive retailer for this brand that originally launched in 2004. The collection features various denim styles, including skinny fit jeans and western bootcut. H&M had closed Cheap Monday in 2018 due to poor sales but now focuses on its core business. Kim Holm, Cheap Monday’s managing director, said, ‘Cheap Monday empowers youth to express themselves through clothing and style. Asos styles the collection for different personalities. This comes after Asos sold majority stake in Topshop and Topman to Heartland.

Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about the relaunch of Cheap Monday denim collection on Asos, featuring American artist Nessa Barrett. It also mentions H&M’s previous closure of the brand in 2018 and Asos selling its majority stake in Topshop and Topman to Heartland.
Noise Level: 4
Noise Justification: The article provides information about the relaunch of Cheap Monday denim collection and its collaboration with Nessa Barrett on Asos. It also mentions Asos selling its majority stake in Topshop and Topman to Heartland. However, it lacks a deep analysis or exploration of the consequences of these decisions and does not offer much actionable insights for readers.
Financial Relevance: Yes
Financial Markets Impacted: Asos’s partnership with Cheap Monday and sale of Topshop and Topman impact their financial performance
Financial Rating Justification: The article discusses H&M relaunching Cheap Monday, which impacts Asos as an exclusive retailer, and Asos selling its majority stake in Topshop and Topman to Heartland. Both events have financial implications for the companies involved.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There are no extreme events mentioned in this article.

Reported publicly: www.retailsector.co.uk