A high street brand shuttered in 2021 could return but it might not be welcomed by Brits. Having closed all stores for good three years ago, it was reported last month that Topshop could make a dramatic comeback after fast fashion online retail giants ASOS sold 75% of its stake in the company.
The retailer bought the brand (both Topshop and Topman, as well as Miss Selfridge and HIIT brands) from the Arcadia Group for £265m, saving it from total collapse.
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Having closed all of its stores, Topshop became an online brand as part of the ASOS empire. However, it could be set for a dramatic return after 75% of it was sold to Danish retail group Bestseller – who own brands such as Jack & Jones.
Around £118m has been spent on the deal, which will see the re-launch of Topshop.com, and when asked by The Sun whether or not it will see the stores return to the high street, the chief executive of ASOS didn’t rule it out.
And now an expert has claimed that if it did return, it’s not going to be the relatively cheap brand we all used to flock to. Adam Cochrane, general retail and luxury equity research analyst at Deutsche Bank mused in Vogue about the brand’s future.
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He said: “Much has changed since Topshop’s heyday. It’s hard to bring back a brand, especially to a new consumer cohort.
“Topshop should be positioned as the most fashion-forward brand possible with frequent range changes and short lead times. It was not the cheapest option. Fashion credibility has to be the focus rather than just the lowest price. There are too many competitors at the low price point now.”
And he went on to claim that the 25% still owned by ASOPS could be key in keeping the brand going. “The 25% ownership may provide some upside opportunity if the sales of Topshop prove stronger than expected,” he said.
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