Topshop

Summary

Topshop is a British multinational fashion retailer known for its trend-focused apparel, footwear, and accessories targeting a youthful demographic. Established in 1964 as a small section of Peter Robinson’s department store in Sheffield, the brand quickly grew into a standalone retail giant. By the 1970s, it had carved out a distinct identity, capitalizing on its ability to deliver high-street fashion at affordable prices. At its peak, Topshop operated hundreds of stores worldwide, including flagship locations in London’s Oxford Circus and New York City, showcasing its influence in the global fashion landscape.

History

Founded in 1964 as an internal label of women’s fashion chain Peter Robinson, the fashion brand was initially named ‘Peter Robinson’s Top Shop’ and retailed collections of young British fashion designers such as Mary Quant and Stirling Cooper. The youthful brand within the Sheffield and Oxford Street shops slowly became a rage as high fashion for the “young and different generation” per The Times. By 1966 it had a shop in Peter Robinson, Norwich.

Peter Robinson’s parent company Burton Group envisioned expanding its womenswear in 1973 and split Top Shop by Peter Robinson into two chains — Peter Robinson and Top Shop. While Peter Robinson targetted the over twenty-five market, Top Shop focused on the youth with Ralph Halpern at the helm. By 1974 Top Shop was evolving independently while retaining the co-branded shop in Oxford Street — and was described as “highly profitable”. Its retail rivals were key players like Miss Selfridge and Way In at Harrods. Within two years Top Shop had fifty-five standalone shops. Fashion critic Prudence Glynn wrote Topshop had “a sharp definition of purpose” and the fashion brand reported profits of £1m that year and by 1978, accounted for a third of Burton’s operating profits.

A buyer of Peter Robinson’s Top Shop, Diane Wadey, had an eye for talent and connected both  Jeff Cooper and Ronnie Stirling with Jane Whiteside: together they set up Stirling Cooper which was sold exclusively at Top Shop, London and Sheffield. Amongst the other designers stocked by Top Shop were Jeff Banks, French Connection and Radley Cooper. Top Shop was now acclaimed for retailing clothes conceived for the young generation of London, per The Times. In 1978 Burton envisioned a share of the men’s fashion pie and launched “Topman”. Both brands were highly profitable.

In the Nineties Topshop launched its first online store for the UK. This is credited to Jane Shepherdson who came on board as brand director. Under her tenure, Topshop became a key sponsor of London Fashion Week and since 2005, an integral part of London Fashion Week. In 2007 supermodel Kate Moss designed her debut line for the brand, artist Stella Vine designed a limited edition collection inspired by her art and Beyoncé launched activewear with Topshop.

In 2012 Arcadia Group sold twenty five per cent stake in Topshop and Topman to private equity group Leonard Green and Partners for reported US $805 million to aid the brand’s expansion into the US. Per the deal, Arcadia retained Topshop’s flagship at Oxford Street. In 2013 Topshop opened a concession at Galeries Lafayette in Paris, its first outlet in France. The following year, Topshop opened on Fifth Avenue while expanding into Asia, Australia, USA, Europe and Africa.

The winds of fortune changed and sadly Arcadia Group was near bankrupt post- pandemic. It was losing ground before the pandemic hit to new fast-fashion e-commerce player which offered cutting-edge styles at lower prices. Topshop was slow to leverage social media as well while product dilution and failure to rule key markets further weakened its roots. That said, it would be a shame if cult brands TopShop and TopMan disappear from the high street. A statement from Deloitte, which is handling the bankruptcy, confirmed that Arcadia — which includes Topshop, Topman, Miss Selfridge, Burton, Dorothy Perkins, Evans and Wallis — would work with Deloitte evaluating recourses, protecting the business from its creditors and seeking potential buyers.

“This is an incredibly sad day for all of our colleagues as well as our suppliers and our many other stakeholders” said Ian Grabiner, CEO, Arcadia, in a statement. “Throughout this immensely challenging time our priority has been to protect jobs and preserve the financial stability of the Group in the hope that we could ride out the pandemic and come out fighting on the other side. Ultimately, however, in the face of the most difficult trading conditions we have ever experienced, the obstacles we encountered were far too severe.”

in 2011, online fashion retailer ASOS acquired Topshop, Topman, Miss Selfridge and HIIT for a reported £330 million. “We are extremely proud to be the new owners of the Topshop, Topman, Miss Selfridge and HIIT.” ASOS CEO Nick Beighton said in a statement. “The acquisition of these iconic British brands is a hugely exciting moment for ASOS and our customers and will help accelerate our multi-brand platform strategy. We have been central to driving their recent growth online and under our ownership we will develop them further using our design, marketing, technology and logistics expertise and working closely with key strategic retail partners in the UK and around the world.”

Mission

Topshop’s mission is centered on combining contemporary design with a commitment to ethical practices. This commitment involves adopting sustainable practices throughout their supply chain, ensuring that every stage of production— from sourcing materials to manufacturing—aligns with ethical standards. By prioritizing responsible sourcing and reducing environmental impact, Topshop seeks to make fashion that is both stylish and conscientious.

In addition to environmental responsibility, Topshop’s mission underscores a dedication to social ethics, focusing on the welfare of people involved in the production process. This includes fair labor practices, safe working conditions, and respect for workers’ rights. The brand’s mission reflects a broader vision of fashion that goes beyond aesthetics to embrace social and environmental responsibility, ensuring that their impact is positive and sustainable. This holistic approach aims to set a standard in the fashion industry, demonstrating that it is possible to achieve both fashion-forward designs and ethical excellence.

Vision

Topshop’s vision is to occupy a unique space at the crossroads of high fashion and fast fashion, where aspiration meets accessibility. By blending the allure of high-end style with the rapid turnaround of fast fashion, Topshop aims to make cutting-edge trends attainable for a wide demographic. This approach reflects the fashion brand’s commitment to maintaining creative integrity while establishing itself as a fashion authority.

The fashion brand’s vision of being a “Global Style Authority” is about more than just setting trends; it’s about democratising fashion on a global scale. Topshop aspires to provide young people around the world with access to the latest styles and fashion innovations. This vision emphasizes a commitment to inclusivity, making high fashion accessible to a broader audience while staying true to the brand’s core values of creativity and excitement. By driving the democratisation of fashion, Topshop positions itself as a leader in making style both aspirational and achievable for youth worldwide.

Topshop has also introduced truly inclusive sizing through the Curve range, as well as further investing in its Maternity, Tall and Petite collections. Autumn Winter ‘22 introduced a series of limited-edition pieces which are the purest expression of the fashion brand’s vision, with key designs manufactured in the UK.

Products and Services

Topshop is renowned for its youthful collections of apparel and accessories. The fashion brand’s product portfolio spans a wide spectrum of womenswear from dresses and skirts to jeans and outerwear. Topshop is celebrated for its ability to capture the latest trends and translate them into accessible fashion pieces that resonate with a younger demographic. In addition to clothing, the fashion brand’s accessories features a variety of stylish options such as bags, belts,and hats.

Historically, Topshop has been a platform for emerging talent and innovative design, originally showcasing fashion by notable young British designers like Mary Quant and Stirling Cooper. This legacy of supporting cutting-edge design has contributed to Topshop’s reputation as the cornerstone of British culture. By continuing to offer a mix of contemporary apparel and accessories, Topshop maintains its role as a key player in making high fashion accessible and exciting for young consumers. This combination of youthful style and a nod to its design heritage underscores the brand’s commitment to delivering fashion that is both current and influential.

Awards and Recognition

Topshop is recognized as a cult youthful British fashion brand for women’s apparel, accessories and footwear. The brand’s innovative approach and bold styles have made it a staple in the wardrobes of fashion-forward individuals, solidifying its position as a significant player in the global fashion landscape. It was part of the Arcadia Group, controlled by Sir Philip Green, but went into administration in late 2020 before being purchased by ASOS on 1 February 2021.

Key Team

• Ian Grabiner (CEO)
• Jørgen Lindemann (Chair: Asos)
• José Antonio Ramos Calamonte (CEO: Asos)
• Mai Fairfield ( Senior Independent Non-executive Director and Chair of the Remuneration Committee)

References

• Official website Topshop
• Beyonce X Topshop Vogue
• Asos acquires Topshop, Topman and Miss Selfridge in £330m deal Retail Gazette
• Topshop closes all its US stores Refinery
• LinkedIn page of Topshop LinkedIn
• Topshop opens first French store in Paris in Galeries Lafayette Retail Week
• Another Day, Another Cara Delevingne Campaign! Grazia
• What does the demise of Arcadia and Debenhams mean for British fashion? GQ
• Facebook page of Topshop Facebook
• Report: Topshop Bankruptcy Imminent BoF
• Twitter page of Topshop Twitter
• Topshop Operator Arcadia Group Files for Bankruptcy in the U.S. WSJ
• Instagram page of Topshop Instagram
• Youtube channel of Topshop Youtube
• Topshop Turmoil Is A Blow For Diversity Forbes
• Wiki page of Topshop Wikipedia
• UK’s Topshop to open on Fifth Avenue New York Reuters
• ASOS Snapchat account Snapchat
• How Topshop’s runway shows became a must-see success Independent
• Beyoncé steals limelight at Topshop launch CNBC