Topshop is making a comeback to Oxford Street after a five-year absence from its former flagship store location. The renowned fashion retailer closed its Oxford Street store in January 2021 following the collapse of its parent company, Arcadia Group, in November 2020.
After being acquired by ASOS for £330 million in conjunction with Miss Selfridge, it was noted that the deal did not encompass physical store locations. However, recent reports suggest that Topshop is gearing up to unveil its first standalone store on Oxford Street within the next year, as revealed by Drapers.
While Topshop had previously reemerged in London at Liberty department store last year, this upcoming opening will mark its inaugural standalone presence in the popular shopping district. The brand has also expanded its accessibility by being stocked in all 32 John Lewis department stores, with Topman available in seven locations, as well as online through the John Lewis website.
Michelle Wilson, the managing director of Topshop, expressed customers’ eagerness for the brand’s return to physical stores, emphasizing the positive reception received. Formerly boasting 300 stores across the UK, Topshop’s journey took a significant turn when ASOS sold a 75% stake in Topshop and Topman, leading to the formation of a joint venture with Heartland, owned by Danish billionaire Anders Holch Povlsen.
The relaunch of the Topshop.com and Topman.com websites further signifies the brand’s resurgence. Wilson hinted at ongoing efforts to enhance the physical store network in discussions with Drapers, indicating a future-focused strategy.
In a similar vein, Russell & Bromley has successfully reopened its Richmond store post-administration rescue. Acquired by Next for £2.5 million along with intellectual property and existing stock assets, the deal encompassed only three Russell & Bromley stores, resulting in the closure of the remaining 33 branches.
Founded in 1880 by George Bromley and Elizabeth Russell in Eastbourne, Russell & Bromley now operates under Andrew Bromley’s leadership, employing over 450 individuals. Next’s strategic acquisitions include brands like Cath Kidston, Joules, Seraphine, and Made.com in recent years, reflecting a dynamic market approach.
