Topshop is making a comeback to Oxford Street, marking its return to the iconic shopping district after shutting down its flagship store five years ago. The fashion retailer closed its Oxford Street site in January 2021 following the collapse of its parent company, Arcadia Group, in November 2020.
After being acquired by ASOS for £330 million, excluding stores, Topshop is now planning to open its first standalone store on Oxford Street within the next year, as reported by Drapers. Topshop had previously made a return to Oxford Street at the Liberty department store last year but is now venturing into a standalone presence in the area.
Topshop products are also now available in all 32 John Lewis department stores, with Topman available in seven stores and online on the John Lewis website. Topshop managing director Michelle Wilson expressed that customers are eager to see the brand back in physical stores, reflecting the sentiment from the brand’s previous 300 store locations in the UK.
ASOS sold a majority stake in Topshop and Topman in September 2024 to Heartland, Anders Holch Povlsen’s holding company, for around £135 million, leading to the relaunch of Topshop.com and Topman.com websites. Michelle Wilson hinted at continuous efforts in working on future physical store plans for Topshop.
In addition to Topshop’s comeback, Russell & Bromley has reopened its Richmond store after being rescued from administration by Next. This luxury shoe chain, founded in 1880, was purchased by Next for £2.5 million for its brand and intellectual property, along with an additional £1.3 million for a portion of its existing stock. The acquisition led to the closure of 33 Russell & Bromley stores, leaving only three locations operational in Chelsea, Mayfair, and Bluewater in Kent.