The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The fate of the prime retail location has been in question since online retailer Asos bought the Topshop brand out of administration in February. The building could fetch as much as £420 million ($582 million), according to The Guardian.
It reflects a wider restructuring on the British high street, after the pandemic accelerated a shift online that already threatened many established brands. Topshop-owner Arcadia collapsed into administration in November and the company’s assets are still being sold off.
Private equity firm Apollo stands to receive the first £312 million generated by any sale of the Oxford Street store, with the Arcadia pension fund next in line, The Guardian reported. The store’s sale was first reported by The Sunday Times.
The rental platform saw its stock soar last week after predicting it would hit a key profitability metric this year. A new marketing push and more robust inventory are the key to unlocking elusive growth, CEO Jenn Hyman tells BoF.
Nordstrom, Tod’s and L’Occitane are all pushing for privatisation. Ultimately, their fate will not be determined by whether they are under the scrutiny of public investors.
The company is in talks with potential investors after filing for insolvency in Europe and closing its US stores. Insiders say efforts to restore the brand to its 1980s heyday clashed with its owners’ desire to quickly juice sales in order to attract a buyer.
The humble trainer, once the reserve of football fans, Britpop kids and the odd skateboarder, has become as ubiquitous as battered Converse All Stars in the 00s indie sleaze years.