Latest news with #PhilipGreen
Forbes
6 days ago
- Business
- Forbes
Bosses Pledge To Topshop Store As U.K. Fashion Icon Plots Return
After four years away, a Topshop store could be back on main street by August as the famous U.K. fashion retailer plans a return to bricks and mortar. The once hugely successful fashion brand, which was founded in 1964, had more than 500 stores across the world at the peak of its fame and was one of the most prominent names on the British high street. Topshop was one of the powerhouses of the global apparel world in the late 1990s and early 2000s and was the flagship of Sir Philip Green's all-encompassing Arcadia empire, with stores worldwide including on Fifth Avenue, New York. The company's global flagship on the junction of Regent Street and Oxford Street in the heart of London's West End was a huge draw for shoppers of all ages and Topshop became the queen of cheap chic. Its iconic flagship was recently reopened as an urban IKEA store by the Swedish giant. However, since its stores closed in 2021, the retailer has focused on selling its apparel via the likes of online retailer Asos and through pop-ups. In September last year, Asos sold a 75% stake in Topshop and Topman to the Heartland, an arm of Bestseller. Asos sold the majority stake in the business for $178 million to the Danish fashion business controlled by the major Asos shareholder Anders Povlsen, who already owns popular European retail brands including Jack & Jones and Vero Moda via his Bestseller business. The deal helped it repay debts and at the time there were rumors that the deal could see the brand return to the high stree. Asos acquired Topshop with other brands just over three years prior for nearly $435 million. Last month, Topshop hosted a pop-up event at Defected Records in East London, which drew in huge crowds and bosses have now said that the overwhelming reaction from the public has led to discussions about the brand's future. Speaking to Drapers about future plans for physical stores, Topshop managing director Michelle Wilson said that it was something that the company had been working on 'all the time' and confirmed that the retailer will have a permanent store presence 'at some point'. Wilson said: 'In the shorter term that will be something with partner support and in the longer term we will do something standalone.' She added that the return of Topshop will begin through working with wholesale partnerships from this August, before relaunching standalone stores. Much of the excitement surrounding the relaunch has been shaped by the brand's own social media. 'We promised on socials that we would be there in August,' said Wilson. '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.' Wilson was appointed managing director of the apparel brands Topshop and Topman in February, along with Moses Rashid, founder of sneaker resale site The Edit Ldn, who became global marketing director. First part of Sir Philip Green's Arcadia Group, the Topshop and Topman brands were snapped up in 2021 by Asos, alongside Miss Selfridge, after Topshop fell into administration in late 2020 as part of the collapse of Green's retail group as the disgraced former retail guru saw his business empire fall apart. Asos retained a 22.5% stake and its Topshop partner, the Seattle-based department store group Nordstrom, which owns just over 2% of the business, with Heartland controlling the remainder. Heartland is an investment and holding company representing the interests of the Holch Povlsen family, and their family business Bestseller, and it completed the deal through its subsidiary Aktieslskabet, pledging to look at the viability of a Topshop store.
Wales Online
6 days ago
- Business
- Wales Online
Major Topshop announcement on shock high street return
Major Topshop announcement on shock high street return There was a pop-up store last month which drew big queues of shoppers, and that sparked an idea Beloved fashion retailer, Topshop, will be coming back to the high street (Image: undefined via Getty Images ) After dipping its toe back into the world of physical retail with a pop-up event last month, Topshop is officially planning a more lasting return. The brand's managing director has confirmed that physical stores are back on the cards - with a permanent presence set to launch "at some point" in the future. This follows the success of Topshop's pop-up shop at Defected Records in East London, which drew long lines of shoppers keen to see Topshop's revival. After the fall of Sir Philip Green's Arcadia Group, ASOS acquired Topshop in 2021, along with Miss Selfridge, for a total of £330 million. This deal did not include the high street shops, leading customers to turn to ASOS's online platform to buy products from these brands, reports the Mirror. Subsequently, in September, 2024, ASOS offloaded a 75% share in Topshop and Topman to Heartland, owned by Danish billionaire Anders Holch Povlsen, for approximately £135 million, forming a joint venture. For money-saving tips, sign up to our Money newsletter here ASOS announced its intention to reintroduce the websites, and aiming for the sites to be operational by August this year. Article continues below In conversation with Drapers regarding the future of physical outlets, Topshop managing director Michelle Wilson said: "That's something that we're working on all the time." She elaborated that the initial phase would involve partner support, while later plans included opening standalone stores. Ms Wilson further disclosed that Topshop's resurgence would commence with wholesale partnerships starting this August, setting the stage for the eventual launch of independent stores. Article continues below She revealed: "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." While no dates are locked in just yet - or where these stores will be - it's a promising sign for fans hoping to see Topshop return to the high street.
Times of Oman
6 days ago
- General
- Times of Oman
Australian Defence Minister Marles makes first 'port of call' at 'chai' stall in Delhi
New Delhi: Tapping into a typical Indian habit of starting one's day with tea, Australia's Deputy Prime Minister and the Minister for Defence, Richard Marles, on Wednesday, went for an early morning walk and had a cup of tea. "A morning run at Nehru Park followed by chai at Malcha Marg- an active start to the Deputy Prime Minister Richard Marles MP's day in Delhi. Look forward to a busy but productive day ahead," Australia's High Commissioner to India, Philip Green, said. > Richard Marles said he went out for a run at Nehru Park and then had tea at Malcha Marg. "First port of call in India is a run and a chai from the local market!" Marles said in a post on X. Marles arrived in Delhi late on Tuesday night. Green said in a post on X, "Welcome to India, Deputy Prime Minister and Defence Minister Richard Marles. 5 years ago tomorrow, Australia and India signed our Comprehensive Strategic Partnership. Your visit to India so early in your second term reflects the strength & continuity of our enduring relationship." Rajnath Singh will meet Australian Deputy Prime Minister and Defence Minister Richard Marles in New Delhi on Wednesday, an official statement said. Both leaders will discuss regional and global security issues and the deepening of defence cooperation ties. In a post on X, the Ministry of Defence stated, "Raksha Mantri Shri Rajnath Singh will meet Australian Deputy Prime Minister & Defence Minister Richard Marles MP in New Delhi today, to discuss regional and global security issues and deepen Defence Cooperation. Defence and security are key pillars of the Comprehensive Strategic Partnership, with both nations committed to peace, stability, and a rules-based order in the Indo-Pacific." Marles is travelling to the Maldives, Sri Lanka, India and Indonesia from June 2-5 for high-level meetings, as per the Australian Defence Government release.
Daily Mirror
7 days ago
- Business
- Daily Mirror
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 and 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.'
Deccan Herald
02-06-2025
- Business
- Deccan Herald
Australia eager to complement India's energy, tech sectors: High Commissioner
Australia believes that India will be the third-biggest economy by 2030 and seeks to complement that growth by supporting the country's strides in the energy, tech, and agriculture sectors, Australian High Commissioner Philip Green says
