Topshop issues major update on whether it will open high street stores again
Topshop was snapped up in 2021 by ASOS, alongside Miss Selfridge, for a combined price of £330million, following the collapse of Sir Philip Green's Arcadia Group
Topshop's managing director has issued an update on whether the fashion brand will finally open physical stores again in the future.
It has been confirmed that the retailer will have a permanent store presence 'at some point' after hosting a pop-up event last month.
The pop-up was held at Defected Records in east London and was met with queues of eager shoppers who were excited to see Topshop return.
Topshop was snapped up in 2021 by ASOS, alongside Miss Selfridge, for a combined price of £330million, following the collapse of Sir Philip Green's Arcadia Group.
The deal didn't include physical stores - instead, shoppers can now only purchase clothes from these retailers online via the ASOS website.
Then in September 2024, Asos sold a 75% stake in Topshop and Topman for around £135million to create a joint venture with Heartland, the holding company of Danish billionaire Anders Holch Povlsen.
At the time, ASOS confirmed plans to relaunch Topshop.com and Topman.com, with the websites expected to go live by August this year. Alongs
Speaking to Drapers about future plans for physical stores, Topshop managing director Michelle Wilson said: 'That's something that we're working on all the time.
'In the shorter term that will be something with partner support and in the longer term we will do something standalone.'
Ms Wilson added that the return of Topshop will begin through working with wholesale partnerships from this August, before relaunching standalone stores.
She said: 'We have something planned in August to bring Topshop back into real life again, with a more semi-permanent presence than the one-day pop-up.'
It comes after Ikea took over the former Topshop store in Oxford Street last month. Ingka Investment, the investment arm of the retail group, bought the Grade II listed building at 214 Oxford Street after Arcadia fell into administration.
Work started on the site in 2022, with original plans to open the location by autumn 2023, but the renovations were dogged by complications, including water leaks in the basement.
The three-floor shopping space sells around 6,000 products, of which 3,500 can be carried away by customers immediately, and the rest ordered for home delivery, click and collect or collection off site
Tolga Oncu, Ingka retail manager, said: 'Adding Oxford Street to the Ikea map is a special moment for us.
'This store, on one of the busiest and most well-known streets in the world, exemplifies our ambition to innovate our retail presence and bring Ikea to where our customers live, work, and socialise.
'Offering our well-designed and affordable products to more people in city centres across the globe remains our way forward.'
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