Will Topshop return to the UK high street?

Despite Asos selling a £135 million stake in Topshop, is there a chance for the retailer to make a comeback on the high street?

Pedestrians walking over wet pavement near Topshop store entrance
(Image credit: Getty Images)

For most of the 1990s, Topshop ruled the high street. Under the management of the combative Philip Green, or at least of his senior staff, it pioneered cheap, fast fashion, bringing style and panache to clothes that everyone could afford. It formed partnerships with the likes of Kate Moss and Beyoncé, and its flagship store on Oxford Street covered five floors. At its peak, it was inescapable. After Green’s Arcadia Group went into administration, however, it was sold to its online rival Asos, and the stores were closed down. 

It might be about to make a return. Last week, Asos sold a £135 million stake in the business to Heartland, controlled by the Danish retailer Anders Povlsen, who also owns brands such as Jack & Jones and Vero Moda. There are plans to reboot the website and the company says it will explore opening physical stores again. If all goes to plan, there could be a Topshop on every high street once again, bringing a much-needed dash of colour to the increasingly drab parade of charity and betting shops that dominate many town centres.

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Matthew Lynn

Matthew Lynn is a columnist for Bloomberg, and writes weekly commentary syndicated in papers such as the Daily Telegraph, Die Welt, the Sydney Morning Herald, the South China Morning Post and the Miami Herald. He is also an associate editor of Spectator Business, and a regular contributor to The Spectator. Before that, he worked for the business section of the Sunday Times for ten years. 

He has written books on finance and financial topics, including Bust: Greece, The Euro and The Sovereign Debt Crisis and The Long Depression: The Slump of 2008 to 2031. Matthew is also the author of the Death Force series of military thrillers and the founder of Lume Books, an independent publisher.