Topshop is set to return to bricks-and-mortar retail this autumn, and while the brand has already secured a wholesale partner behind the scenes, the fashion industry is still guessing who it might be.
The revival of Topshop’s physical presence marks a notable moment for the British high street. After its parent company Arcadia collapsed in 2021, Asos rescued the iconic brand in a £330m deal that included Topman, Miss Selfridge, and HIIT.
Jointly owned by Asos and Heartland, Topshop has already confirmed several European stockists — including Printemps in France and Magasin du Nord in Denmark — but its UK wholesale partner remains under wraps.
Since the acquisition, Topshop has operated exclusively online, a marked shift from its iconic Oxford Street flagship which once drew global crowds.
Now, the brand is preparing for a physical retail comeback, with managing director Michelle Wilson revealing plans to launch a “semi-permanent” store in August, ahead of a longer-term wholesale partnership this autumn.
“I’m excited to see Topshop back in person,” Wilson told Drapers. “I think the partner that we are collaborating with is an incredible partner. I think it will surprise a few people.”
Mystery surrounding the partner’s identity has fuelled speculation across the industry. Here Retail Gazette profiles the frontrunners.
Selfridges
Selfridges is often the frontrunner in conversations about where Topshop might land and for good reason.
The department store’s strong fashion credentials and historic association with British brands make it a natural fit. Former Topshop insiders have praised Selfridges as a “perfect home” for the brand, noting its broad reach beyond London into cities like Manchester and Leeds, which could help Topshop connect with a wider audience.
Moreover, Selfridges has cultivated a reputation in recent years for housing a curated mix of on-trend, culturally relevant brands such as Tala and Skims. This combination of scale, style, and shopper engagement makes Selfridges an especially attractive partner for Topshop’s return.
Marks & Spencer
M&S’ clothing division has reinvented itself in recent years, shedding its traditional image to attract younger shoppers.
This shift has been boosted by former Topshop executives Mitch Hughes and Maddy Evans, who now lead menswear and womenswear respectively.
Their expertise in youth-focused fashion has helped M&S appeal to a fresher audience, making it a strong contender as Topshop’s wholesale partner.
M&S also offers Topshop a platform to reach mainstream shoppers across an extensive store network.
John Lewis
John Lewis is known for its reputation as a trusted, quality retailer with loyal customers.
Its focus on curated, high-quality fashion aligns with Topshop’s recent ambitions to refresh its product offering. Though a less obvious partner, John Lewis is actively working to rival M&S’s recent clothing success, having launched over 50 new brands since the start of the year. Adding Topshop could bolster John Lewis’s fashion credentials and refresh its high street appeal.
Next
Next could also be a strong choice for Topshop’s return to physical retail. The retailer has a proven track record of hosting concession brands and curating diverse fashion offerings.
Next’s premium fashion site, Seasons, launched last year. It features brands like A.P.C., Ganni, Joseph, Marc Jacobs, Rixo, and Veja, and helps underscoring its commitment to expanding its fashion portfolio.
In addition, Next has introduced in-store concessions such as the Gap shop-in-shop at its Oxford Street flagship, marking a strategic move towards experiential shopping destinations.
While other names might feel like a more natural fit for Topshop’s cultural and commercial revival, Next remains a major player whose scale make it impossible to overlook.
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