Topshop is making a comeback to Oxford Street, planning to reopen its flagship store five years after shutting down the location. The renowned fashion retailer ceased operations at its Oxford Street premises in January 2021 following the insolvency of its parent company, Arcadia Group, in November 2020.
After being acquired by ASOS for £330 million in a deal that excluded physical stores, Topshop is now gearing up to launch its first standalone store on Oxford Street within the next year, as reported by Drapers. While Topshop made a return to Oxford Street last year through a launch at Liberty department store, this upcoming opening will mark its debut as a standalone store in the famed London shopping district.
Furthermore, Topshop products are now available at all 32 John Lewis department stores, with Topman available at seven locations and online on the John Lewis website. Topshop’s managing director, Michelle Wilson, shared that customers have expressed eagerness to see the brand back in stores, considering its previous presence in over 300 locations across the UK.
ASOS later sold a 75% stake in Topshop and Topman for around £135 million in September 2024 to establish a joint venture with Heartland, the holding company of Danish billionaire Anders Holch Povlsen. The relaunch of Topshop.com and Topman.com websites was subsequently confirmed.
In addition to Topshop’s comeback, Russell & Bromley has reopened its Richmond store after being rescued from administration by Next. Next acquired the luxury shoe chain for £2.5 million for its brand and intellectual property, along with an additional £1.3 million for part of its existing stock. This transaction only included three Russell & Bromley stores, leading to the closure of the remaining 33 branches.
Founded in 1880 by George Bromley and Elizabeth Russell in Eastbourne, Russell & Bromley currently employs over 450 individuals and is under the leadership of Andrew Bromley. Next has also made strategic acquisitions of brands like Cath Kidston, Joules, Seraphine, and Made.com in recent years.
