Topshop is set to make a comeback to Oxford Street, marking its return after closing its flagship store five years ago. The renowned fashion retailer ceased operations at its Oxford Street location in January 2021 following the collapse of its parent company, Arcadia Group, in November 2020.
After being acquired by ASOS, Topshop, along with Miss Selfridge, was purchased for a combined sum of £330 million, although the deal did not include physical stores. However, recent reports suggest that Topshop is gearing up to launch its first standalone store on Oxford Street within the next year, as disclosed by Drapers.
While Topshop made a reappearance at Oxford Street within the past year through a launch at Liberty department store, the forthcoming standalone store will mark its debut in the renowned London shopping district. Additionally, the brand has expanded its presence by being available in all 32 department stores of John Lewis, with Topman products now stocked in seven stores and online on the John Lewis website.
Topshop’s Managing Director, Michelle Wilson, expressed the excitement surrounding the relaunch of Topshop, stating that customer feedback indicates a strong desire to see the brand back in physical stores. Previously operating 300 stores in the UK, Topshop saw ASOS sell a 75% stake in Topshop and Topman in September 2024 for approximately £135 million to form a joint venture with Heartland, the holding company of Danish billionaire Anders Holch Povlsen.
Furthermore, the relaunch of Topshop.com and Topman.com websites has been confirmed. Looking ahead, Wilson mentioned ongoing efforts to enhance the brand’s physical store presence. Topshop’s return mirrors a trend in the industry, with Russell & Bromley reopening its Richmond store post-administration rescue by Next.
Next acquired Russell & Bromley for £2.5 million, securing the brand and intellectual property, along with an additional £1.3 million for some of its existing stock. However, the deal excluded most Russell & Bromley stores, resulting in the closure of 33 branches, leaving only three stores operational in Chelsea, Mayfair, and Bluewater in Kent. Established in 1880 by George Bromley and Elizabeth Russell in Eastbourne, Russell & Bromley now under the leadership of Andrew Bromley employs over 450 individuals.
Next’s acquisition spree also includes brands like Cath Kidston, Joules, Seraphine, and Made.com in recent years.