Who owns topshop australia

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American journalist jailed for 11 years in Myanmar. Stores in the US and elsewhere have also shut as Topshop retreats back to its UK heartlands, to lick its wounds and wonder where it all went so wrong.

Its parent company has racked up losses in the billions — and its fair share of controversy too. Long lines of excited young shoppers stretched into the distance eager to grab some fast fashion at a bargain price. New stores were opened and a deal was inked with Myer that would see Topshop concessions appear in department stores, allowing the brand to expand across Australia at a breakneck pace.

They hung too much off the reputation of the parent brand. Mr Walker said Topshop was perceived as expensive for a fast fashion brand. Customers grumbled when they saw online the same Topshop clothes were cheaper to buy in Britain. The Topshop concessions in Myer vanished almost overnight. So, the model was just broken. Arcadia kept its Australian arm going but since has progressively shut down stores, including its Melbourne CBD flagship that once took up a sizeable chunk of the Emporium shopping centre.

You have to be, figuratively, on the street and develop relevance, momentum and buzz in your ranges. The loss of Ivy Park from Topshop came during a tumultuous time for Arcadia. Its long time chairman, former billionaire Sir Philip Green was facing claims he bullied some staff — accusations he strenuously denies.

Mr Green and Arcadia were also criticised for selling iconic UK retailer British Homes Stores for just one pound in , only for the new owners to shut it down completely the following year putting thousands of people put of work.

It was all taking its toll on the shining star of the Arcadia Group. Last year Topshop announced it would close its final 11 US stores. Even in Britain, it has scaled back its network closing one of its most visible branches in the Westfield shopping centre in east London, adjacent to the Olympic stadium.

That is no longer the case. Beyonce took back control of the partnership in , following metoo allegations against Green, and Topshop stores in the US, Australia and Hong Kong have now all closed, after failing to gain traction with local audiences. Meanwhile, the brand has struggled in its domestic market. Just five years ago, it was fourth.

Analysts agree that the lack of digital innovation Topshop has been forced to rely on third-party platforms, such as Asos and Zalando, for many of its online sales and failure to keep up with the designs and prices of its younger rivals were key challenges. But part of the problem was also Green, according to Wiggenraad. The administrators, Matt Smith and Dan Butters from Deloitte, are rapidly seeking expressions of interest and expect to identify one or more buyers, according to a statement.

No redundancies have been announced, and all stores remain open and trading. Skip to content Email Login. Forgot password.