Company type | Subsidiary |
---|---|
Industry | Fashion Clothing Textiles |
Genre | Retail |
Founded | 1978[1] |
Defunct | 2021 |
Fate | Converted into an online store |
Headquarters | London, United Kingdom |
Products | Men's fashion |
Revenue | £1.8 billion[ citation needed ] |
£357.5 million[ citation needed ] | |
Owner | ASOS |
Website | asos |
Topman is a UK-based multinational men's fashion retail brand founded by Burton Group (later renamed Arcadia Group) in 1978. Along with its women's clothing counterpart Topshop and the rest of Arcadia Group, Topman went into administration in late 2020. All high street stores subsequently closed and the brand was purchased by ASOS on 1 February 2021, relaunching as an online-only retailer. [2]
In 2001, Topman's brand director, David Shepherd, was considered to have "done a Ratner" when he referred to his core clientele as "Football hooligans or whatever" and said that "Very few of our customers have to wear suits to work. They'll be for his first interview or court case". [3]
In May 2019, the BBC and The Wall Street Journal both reported that, after its parent company Arcadia Group filed for bankruptcy, Topshop would close all 11 of its U.S. stores, including Topman. Apparel would be distributed digitally and through other wholesale partners, such as Nordstrom. [4]
In the UK, Arcadia Group went into administration at 8pm GMT on 30 November 2020. [5] [6] On 25 January 2021, ASOS said it was in "exclusive" talks to buy Arcadia's Topshop, Topman, Miss Selfridge and HIIT brands out of administration, though it only wanted the brands, not the shops. A consortium including Next had earlier dropped a bid to buy Topshop and Topman; interest in Arcadia operations had also been expressed by Mike Ashley's Frasers Group, a consortium including JD Sports, and online retailer Boohoo. [7]
On 1 February 2021, ASOS announced it had acquired the four Arcadia brands out of administration for £265 million, paying an additional £65 million for current and pre-ordered stock. ASOS will keep 300 employees on as part of the deal but will not keep any of the brands' 70 stores, putting 2,500 jobs at risk. [8] [9] They plan to relaunch in May 2021.
On the 5 September 2024, ASOS announced that it sold a 75% stake of Topshop & Topman to the Danish company Bestseller. It was announced that the Topshop & Topman websites would relaunch within 6 months of the deal with Bestseller, as well it was hinted that the brands could return to the high street with stores, the chief executive of ASOS commented "We might open stores. We will consider it for sure but we have no specific agreement to open a certain number".
Topman was nominated for the 'Menswear Design of the Year' award by the British Fashion Council, winner of 'Best Fashion Retailer' at the Maxim Style Awards for 2005 and winner of 'Best High Street Retailer' at the 2007 FHM Fashion and Grooming awards. [10]
In 2008, Topman collaborated with new label The Look Presents, the creation of rock-fashion author Paul Gorman and Soho boutique owner, Max Karie, to launch 'the Look Presents'. [11]
In 2011, Topman worked closely with Teenage Cancer Trust. The company worked in collaboration with children from the charity to produce a range of sunglasses designed by them whilst supporting the 'Rock your Shades' campaign in May 2011. [11]
Debenhams plc was a British department store chain operating in the United Kingdom, Denmark and the Republic of Ireland, and is still operating as a franchise in seven Middle East countries. It was founded in 1778 as a single store in London and grew to 178 locations across those countries, also owning the Danish department store chain Magasin du Nord. In its final years, its headquarters were within the premises of its flagship store in Oxford Street, London. The range of goods sold included middle-to-high-end clothing, beauty, household items, and furniture.
Next plc, trading as Next (styled as NEXT) is a British multinational clothing, footwear and home products retailer, which has its headquarters in Enderby, England. It has around 700 stores, of which circa 500 are in the United Kingdom, and circa 200 across Europe, Asia and the Middle East. Next is the largest clothing retailer by sales in the United Kingdom, having overtaken Marks & Spencer in early 2012 and 2014. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
Sir Philip Nigel Ross Green is a British businessman who was the chairman of the retail company Arcadia Group. He owned the high street clothing retailers Topshop, Topman, and Miss Selfridge from 2002 to 2020. In May 2023, his net worth was estimated by the Sunday Times Rich List to be £910 million.
TOPSHOP is a British fast-fashion company, which specialises in women's clothing, shoes and accessories. 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. It now operates via the ASOS website and app, as well as being sold in Nordstrom stores in the US on Nordstrom.com. TOPSHOP previously had around 510 shops worldwide.
British Home Stores, commonly abbreviated to BHS and latterly legally styled BHS Ltd, was a British department store chain, primarily selling clothing and household items. In its later years, the company began to expand into furniture, electronics, entertainment, convenience groceries and fragrance and beauty products.
Faith was a British shoe retailer founded in 1964 by London accountant Samuel Faith and his wife. In the following years new stores were gradually added, primarily in the South of England. After Samuel's retirement, his son Jonathan acquired the family business which he subsequently sold to Bridgepoint Capital in December 2004 for £65 million.
Arcadia Group Ltd was a British multinational retailing company headquartered in London, England. It was best known for being the previous parent company of British Home Stores (BHS), Burton, Dorothy Perkins, Debenhams, Evans, Miss Selfridge, Topman, Topshop, Wallis and Warehouse. At its peak, the group had more than 2,500 outlets in the UK and concessions in UK department stores and several hundred franchises operated internationally.
Burton is a British online clothing retailer, former high street retailer and clothing manufacturer, specialising in men's clothing and footwear. The company was a constituent of the FTSE 100 Index, but became a trading name of Arcadia Group Brands Ltd, part of the Arcadia Group. Sir Philip Green acquired the Arcadia Group in 2002, and it became the sole owner of Burton. In 2021, Boohoo.com acquired the brand after Arcadia went into administration.
Churchill Square is the principal shopping centre in the centre of Brighton and Hove, a city on the south coast of England. It is at the eastern end of Western Road, near the Clock Tower.
JD Sports Fashion plc, commonly known as JD Sports, JD or JD Group is a British multinational sports-fashion retail company based in Bury, Greater Manchester, England. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index. The Pentland Group owns 55% of the company.
Miss Selfridge is a British fashion brand and former high street store chain which began as the young fashion section of Selfridges department store in London in 1966. It was part of the Arcadia Group, controlled by Sir Philip Green, which went into administration in late 2020. The Miss Selfridge brand was purchased by ASOS on 1 February 2021 and now operates exclusively online.
Frasers Group plc is a British retail, sport and intellectual property group, named after its ownership of the department store chain House of Fraser.
Edinburgh Woollen Mill (EWM) is a Carlisle-based retailer specialising in clothing, along with interests in homewares and destination shopping for tourists. It was previously owned by the Dubai based British businessman Philip Day.
ASOS plc is a British online fast-fashion and cosmetic retailer. The company was founded in 2000 in London, primarily aimed at young adults. The website sells over 850 brands as well as its own range of clothing and accessories, and ships to all 196 countries from fulfilment centres in the United Kingdom, the United States, and Europe.
Richard Shops was a British high street retailer of women's fashion.
Bestseller A/S is a privately held family-owned clothing and accessories company founded in Denmark in 1975. The company provides affordable fashion for men, women and children. They market their products in 70 markets across most of Europe, the Middle East, Canada, India and globally via E-commerce. They operate almost 9,000 shops worldwide, 6,000 in China and the rest mainly in Europe.
Sears plc was a large British-based conglomerate. The company was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index. It was acquired by Charles Clore in the 1950s who expanded the company to be one of the largest retailers in Britain. It was acquired by Philip Green in 1999 who oversaw the break up of the group.
Cristina Stuart Green, Lady Green, known as Tina Green, is an English businesswoman and interior designer. Green is the director of Taveta, the majority owner of Taveta Investments Ltd, the parent company of the Arcadia Group, of which her husband, Sir Philip Green, is chairman. The Arcadia Group owned the clothing retail chains Topshop and Topman, as well as Burton, Dorothy Perkins, Evans, Miss Selfridge, Outfit, and Wallis. Taveta owned British Homes Stores (BHS) before its 2015 sale. BHS was placed into administration in 2016, and the Arcadia Group was placed into administration in 2020. Green formed the interior design company Green & Mingarelli with the Italian designer Pietro Mingarelli.
Liverpool Shopping Park is an out of town retail park located in Edge Lane, Liverpool, England. It is the biggest retail park in Liverpool, overtaking the New Mersey Retail Park in Speke, and has the world's largest Liver Bird at 30 ft (9.1 m) and made of Meccano.
The COVID-19 pandemic has taken a sharp economic toll on the retail industry worldwide as many retailers and shopping centers were forced to shut down for months due to mandated stay-at-home orders. As a result of these closures, online retailers received a major boost in sales as customers looked for alternative ways to shop and the effects of the retail apocalypse were exacerbated. A number of notable retailers filed for bankruptcy including Ascena Retail Group, Debenhams, Arcadia Group, Brooks Brothers, GNC, J. C. Penney, Lord & Taylor and Neiman Marcus.