Topshop was originally formed as an offshoot of department store Peter Robinson in 1964, selling modern fashion by young designers including Mary Quant. Fast forward, and it is now one of the UK’s most notable fashion brands, under the Arcadia Group which includes Miss Selfridge, Topman, Dorothy Perkins, Burton, Evans and Wallis. Due to struggling profits, along with the rest of the Arcadia brands, Topshop Topman turned to a CVA in mid-2019 to reduce the size of the estate and reshape the business for a digital future. As part of this, it closed down its US business with all 11 stores shuttered. Once famed for its high-profile collaborations with the likes of Kate Moss and Beyoncé, Topshop has struggled to keep up with fast-fashion etailers’ celebrity and influencer marketing. To boost online growth, Topshop has turned to partnering with marketplaces such as Asos, Shop Direct, Zalando and Next, as well as overhauling its own website.
Fashion tycoon Sir Philip Green is to overhaul his Arcadia fashion empire for the second time in little more than a year because of the impact of the coronavirus pandemic.
Arcadia plans to cut a fifth of its head office staff in a bid to cut costs following the coronavirus pandemic.
Fashion app start-up Mallzee has launched a mystery clothing box service, Lost Stock, selling well-known fashion brands to help tackle the issue of cancelled stock and its impact on Bangladeshi workers.
Ted Baker has snapped up Topshop design boss Anthony Cuthbertson for the role of global creative director.
The coronavirus crisis has prompted interest from a raft of fashion brands to sell through Asos as lockdowns worldwide decimate sales through bricks-and-mortar stores.
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