Topshop and Topman could be set for a high street comeback following a £135m deal between Asos and Danish investment firm Heartland.
Asos boss José Antonio Ramos Calamonte hinted that the iconic fashion brands, which have been absent from physical stores Arcadia’s collapse in 2020, could start reopening brick-and-mortar locations.
The chief executive said: “We will consider it for sure but we have no specific agreement to open a certain number.”
His comments come after Asos, which acquired Topshop, Topman, alongside Miss Selfridge and HIIT in 2021 for £330m, revealed it had sold a 75% stake of the brand to Heartland, the investment firm owned by the Holch Povlsen family.
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The partnership will see Topshop.com relaunched over the coming months – the brand has been operating within Asos’ platform under the fashion group’s ownership.
However, US customers have been able to purchase Topshop products in person thanks to a tie-up with retail giant Nordstrom.
Topshop had 70 stores across the UK, including its flagship store on London’s Oxford Street, before it fell into administration in 2020 as part of the collapse of Sir Philip Green’s Arcadia empire.
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