Online fast fashion retailer Shein is eyeing its next acquisition with a potential bid for British womenswear brand Topshop.

Shein has formally registered its interest in making an offer with British fashion retailer Asos, which acquired Topshop for over US$400 million in 2021. 

Founded in 1964, the brand was part of the Arcadia Group before the group collapsed into administration in 2020.

Asos was reportedly considering selling Topshop as it looks to improve its balance sheet following a $364 million loss in its last financial year. 

Meanwhile, A source told The Times that Shein would not be a preferred bidder for Topshop, adding that their sense “is the person leading the sale process [at Asos] is not keen on Shein”.

Other potential bidders are believed to include Frasers Group, Next, and Authentic Brands.

Known for its inexpensive and trendy fashion items, Shein bought the intellectual property and trademarks of the Missguided brand from Frasers Group last month. 

The company also signed a strategic agreement with Authentic Brands Group to design, manufacture and distribute a line of Forever 21 clothing and accessories.