Topshop once ruled the British high street. Joni jeans and Kate Moss collections had millenials in a chokehold and its legendary Oxford Street store was the stuff of every young girls’ dreams. But its reign came to an end in 2021. The brand went into administration and was purchased by Asos, which saw it being demoted to online-only and all 70 of its physical stores shutting down.
But hold onto your bucket hats, millienials — there are whispers of a comeback. Amid debt and struggling sales, Asos has sold a 75 percent stake in Topshop to Heartland, which owns the likes of Vera Moda and Jack & Jones, in a £135 million deal.
It’s been confirmed that a dedicated Topshop website will relaunch next summer. Bosses are keeping tight-lipped about whether we’ll see the return of physical stores, though.
In a press conference this week, José Antonio Ramos Calamonte, chief executive of Asos, said: ‘We might open stores. We will consider it for sure but we have no specific agreement to open a certain number.’ It’s not much, but we’ll take it.
Beloved British brands and Time Out
As the custodian of British city life with all its ups and downs, we at Time Out have up-to-date info about what’s closing, what’s new and everything in-between. Here’s the full list of UK high street stores closing in 2024, where the next UNIQLO store is opening and which Homebase stores are being replaced with supermarkets.
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