Topshop's rumoured Oxford Street comeback may be too late

Telegraph

21-03-2025

At the peak of its success, Topshop had 500 stores around the world, including 300 in the UK. But as well as a commercial success, it became a significant force in the fashion industry, bringing trend-led pieces to the high street at an accessible price point. In 2005, Topshop's premium label, Topshop Unique, became the first high street brand to have a show during London Fashion Week. This ran until 2018, its catwalk graced by supermodels including Cara Delevingne and Gigi Hadid.
Over the years, Topshop was worn by everyone from Kate Middleton to Kate Moss. The latter is intimately connected to the brand's history and the name behind one of its most memorable repeated collaborations (other collaborators included Christopher Kane and Beyonce). Moss memorably caused a stampede at the launch of her first collection in 2007 by stepping behind the Oxford Street store windows in a red dress. Years later, the crowds returned to see the supermodel launch another collection in 2014, when she posed alongside presenter Nick Grimshaw before introducing a live performance by DJ Duke Dumont.
It's the stuff of millennial daydreams. But more than a decade on from those halcyon days, can Topshop recapture the same appeal? Or will its return prove little more than an exercise in nostalgia-baiting? 'I'm not sure what it is going to be,' says Jane Shepherdson, who led the brand to enormous success during her time as brand director from 1998 to 2007. 'Topshop was very much a product of its time, and things have changed enormously in the last few years.' It's undeniable that on Asos, it has failed to generate the hype of its heyday, not to mention that being generated at other high-street brands like Zara and M&S, where bestsellers frequently attract 'viral' attention.
Nevertheless, there might be a space for it, especially given the decimation of British brands on the high street, where much-loved stores like Oasis and Warehouse are now notably absent. 'Topshop's return would be a welcome sight on the British high streets for sure,' says Peter Robinson, former head of press at New Look. 'I think there is an appetite for something a little cooler – a little more UK-centric – that can navigate that tightrope between catwalk trends and street style, which is missing from the current fashion map.'
Of course, there are wounds to be healed, not least the legacy left by Green's downfall. 'The consumer was turned off by the wider Arcadia group issues of bad management and the treatment over pensions and the like,' says Robinson. 'Conscience is a retail pillar and brands need to live up to expectations here.'
He adds that the 'shiny' new online labels were also a factor in Topshop's demise, from Everlane and Nobody's Child to fast fashion giants like Pretty Little Thing, Boohoo and Shein. As the future of the latter hangs in the balance, it might be time for a new Topshop era after all.
The 9 best Topshop moments through its history