The web trend retailer mentioned on Thursday (September 5) that it’s going to promote three-quarters of its possession within the manufacturers to Danish agency Heartland by forming a 75:25 three way partnership with the Nordic firm.
Heartland is the holding firm of Danish billionaire Anders Holch Povlsen, and likewise owns clothes retailer Bestseller, which runs 2,800 retail shops throughout 30 nations. It holds a major stake in Asos.
Topshop has not operated bodily outlets since they got here beneath the Asos umbrella a number of years in the past.
Chief government José Antonio Ramos Calamonte mentioned the transfer will assist “speed up our technique to each supply prospects the very best and most related product and to show Asos into an organization that delivers sustainable, worthwhile development”.
However now the transfer has left followers questioning if we might see a return of the favored retailer to British excessive streets. Here’s what we all know.
Who owns Topshop and Topman?
Asos handed management of the style model to the billionaire behind Vero Moda and Jack & Jones in a £135m deal.
It had bought a 75 per cent stake to Heartland, an arm of Bestseller, the Danish trend enterprise managed by the most important Asos shareholder Anders Povlsen.
Povlsen, a Danish billionaire who’s Scotland’s largest landowner, already owns manufacturers together with Jack & Jones and Vero Moda via his Bestseller enterprise.
Topshop, which had 70 shops together with a flagship website on London’s Oxford Street, fell into administration in late 2020 as a part of the collapse of Sir Philip Green’s Arcadia empire.
Will Topshop and Topman reopen?
Topshop and Topman may very well be set for a excessive avenue comeback however no official determination has been made public as but.
Asos boss Calamonte has not dismissed the concept, and has hinted we might see a return to bodily shops in addition to an internet revival.
He mentioned: “We are going to think about it for certain however we have now no particular settlement to open a sure quantity.”
When did Topshop shut on Oxford Avenue?
Topshop’s flagship retailer was within the centre of London in Oxford Avenue, situated proper by Oxford Circus station. Previous to lockdown, the 100,000sq ft retailer welcomed 400,000 prospects via its doorways every week however the trend chain left the large store vacant afters its father or mother firm, Arcadia, went into administration in late 2020.
