Former high-street staples Topshop and Topman could be set for a comeback after the brands shared videos suggesting their return to the market.
It was announced that Asos would sell three-quarters of its ownership in the Topshop and Topman brands to Danish firm Heartland, forming a 75:25 joint venture.
This news sparked excitement about the potential return of the shops. Fans were further encouraged by Instagram posts on Tuesday, hinting at a revival.
Three posts with the same video spelt out, “We’ve. Been. Listening”, with the short film finishing with the words: “We missed you too.”
Mayor of London, Sir Sadiq Khan, has also expressed his support for the campaign to bring the Topshop brand back.
“I’d meet my mates outside Topshop, my daughters took me shopping at Topshop and I know every type of Topshop jean,” he said.
“Wouldn’t it be great to get Topshop back on Oxford Street?”
Additionally, the Topshop website now displays a “coming soon” message, though no further details have been revealed.
It has not operated physical shops since it came under the Asos umbrella several years ago.
Chief executive José Antonio Ramos Calamonte said the move would help “accelerate our strategy to both offer customers the best and most relevant product and to turn Asos into a company that delivers sustainable, profitable growth”.
But now, the move has left fans speculating about the popular retailer’s potential return to British high streets.
Here’s what we know so far.
Who owns Topshop and Topman?
Asos handed control of the fashion brand to the billionaire behind Vero Moda and Jack & Jones in a £135m deal.
It had sold a 75 per cent stake to Heartland, an arm of Bestseller, the Danish fashion business controlled by the major Asos shareholder Anders Povlsen.
Povlsen, a Danish billionaire and Scotland’s largest landowner, already owns brands including Jack & Jones and Vero Moda through his Bestseller company.
Topshop, which had 70 stores including a flagship site on London’s Oxford Street, fell into administration in late 2020 as part of the collapse of Sir Philip Green’s Arcadia empire.
Will Topshop and Topman reopen?
Topshop and Topman could be poised for a high-street comeback, though no official decision has been announced yet.
Asos CEO José Antonio Ramos Calamonte has not ruled out the possibility, hinting at a potential return to physical stores alongside an online revival.
He said: “We will consider it for sure, but we have no specific agreement to open a certain number.”
When did Topshop close on Oxford Street?
Topshop’s flagship store was in the centre of London on Oxford Street, located by Oxford Circus station.
The 100,000 sq ft store welcomed 400,000 customers each week before lockdown. However, the fashion chain vacated the massive retail space after its parent company, Arcadia, went into administration in late 2020.