The web vogue retailer mentioned on Thursday (September 5) that it’ll 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 in addition owns clothes retailer Bestseller, which runs 2,800 retail shops throughout 30 nations. It holds a big stake in Asos.
Topshop has not operated bodily retailers 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 provide clients the perfect 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 may 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 offered a 75 per cent stake to Heartland, an arm of Bestseller, the Danish vogue enterprise managed by the foremost Asos shareholder Anders Povlsen.
Povlsen, a Danish billionaire who’s Scotland’s greatest landowner, already owns manufacturers together with Jack & Jones and Vero Moda by his Bestseller enterprise.
Topshop, which had 70 shops together with a flagship website on London’s Oxford Road, fell into administration in late 2020 as a part of the collapse of Sir Philip Inexperienced’s Arcadia empire.
Will Topshop and Topman reopen?
Topshop and Topman may very well be set for a excessive avenue comeback however no official choice has been made public as but.
Asos boss Calamonte has not dismissed the thought, and has hinted we may see a return to bodily shops in addition to a web-based revival.
He mentioned: “We’ll think about it for positive however now we have no particular settlement to open a sure quantity.”
When did Topshop shut on Oxford Road?
Topshop’s flagship retailer was within the centre of London in Oxford Road, situated proper by Oxford Circus station. Previous to lockdown, the 100,000sq ft retailer welcomed 400,000 clients by its doorways every week however the vogue chain left the massive store vacant afters its dad or mum firm, Arcadia, went into administration in late 2020.
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