Topshop is reportedly planning to open a standalone store on London's Oxford Street within the next 12 months, marking its return to the iconic shopping district five years after closing its flagship site. The fashion retailer shut its Oxford Street store in January 2021 following the collapse of its parent company, Arcadia Group, in November 2020.
After the administration, Topshop was acquired by ASOS, along with Miss Selfridge, for £330 million, but the deal did not include physical stores. In September 2024, ASOS sold a 75% stake in Topshop and Topman to Heartland, the holding company of Danish billionaire Anders Holch Povlsen, for around £135 million, forming a joint venture. The Topshop.com and Topman.com websites have since been relaunched.
Topshop made a limited return to Oxford Street last year with a concession in Liberty department store, but the new standalone store would be its first independent outlet in the area since the closure. The brand is also now available in all 32 John Lewis department stores, with Topman stocked in seven of them and on the John Lewis website.
Topshop managing director Michelle Wilson previously said, “The conversations we’ve had with customers around the relaunch is that people are desperate to see Topshop back in stores.” Speaking to Drapers about future physical store plans, she added, “That’s something that we’re working on all the time.”
The potential return comes as other retailers also re-enter the high street. Russell & Bromley, the luxury shoe chain rescued from administration by Next, has reopened its Richmond store. Next paid £2.5 million for the brand and intellectual property and £1.3 million for a portion of stock, retaining only three stores in Chelsea, Mayfair, and Bluewater, while closing the remaining 33 branches.
