Is Topshop Shutting Down Stores Around The Globe?

UK-born fast fashion retailer Topshop is facing a large change in their company. This is due to recent announcements that all 11 Topshop and Topman stores in the United States are planned to be closed – not only this, but a number of stores in the United Kingdom will be shut down too.

Chief Executive of Arcadia Ian Grabiner has been quoted stating that these closures of stores are “tough but necessary”. These decisions are being made in the hopes of turning the business around as they have been suffering since last year.

In 2018 during the #MeToo phenomenon, Sir Philip Green was accused of sexual misconduct and became a subject of many investigations. During this, he also became a ‘villain’ amongst social-media users and even had British politicians asking for his knighthood to be stripped.

Even Beyoncé, who has a largely successful sports-luxe line IVY PARK, decided to buy out her label so it would no longer have ties with Topshop. Instead, it was rumored that she will be re-launching in a creative partnership with Adidas.

Topshop and Topman were once successful young-consumer and student targeted retailers, but since Green was accused of misconduct the profits have taken a hit. During this slow demise of Arcadia, what will happen in the near future for this once powerful brand?

Do you still shop at Topshop or Topman? We’d love to get your opinions on these closures.

Next up, Hooray, Topshop Is Now Selling Jeans In Half Sizes