83 023
Fashion Jobs
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Norwalk
Permanent · NORWALK
BELK
Store Fulfillment Associate - Full Time
Permanent · FRANKLIN
BELK
Asset Protection Lead - Full Time
Permanent · AUBURN
BELK
Store Fulfillment Associate - Full Time
Permanent · SAVANNAH
BELK
Store Fulfillment Associate - Part Time - Independence Mall
Permanent · WILMINGTON
BELK
Asset Protection Associate - Full Time
Permanent · ROCKY MOUNT
BELK
Store Fulfillment Associate - Part Time - Coastal Grand
Permanent · MYRTLE BEACH
BELK
Store Fulfillment Associate - Full Time - Bridgestreet
Permanent · HUNTSVILLE
BELK
Store Fulfillment Associate - Full Time
Permanent · TUPELO
BELK
Store Fulfillment Associate - Part Time
Permanent · SAVANNAH
BELK
Asset Protection Manager - Triangle
Permanent · RALEIGH
ALO YOGA
Construction Project Manager
Permanent · LOS ANGELES
SUN VALLEY
Sun Valley Marketing Manager
Permanent · SUN VALLEY
LULULEMON
Community Specialist | (Contract) Market Street The Woodlands
Permanent · THE WOODLANDS
LULULEMON
Community Specialist | Orlando Premium Outlet
Permanent · ORLANDO
LULULEMON
Full-Time Community Specialist | Cumberland Mall
Permanent · ATLANTA
KOHLS
Operations Supervisor - Weekend Days
Permanent · PLAINFIELD
KOHLS
Technical Project Manager
Permanent · MENOMONEE FALLS
KOHLS
Loss Prevention Associate
Permanent · FINDLAY
NAVY EXCHANGE
Vending Route Driver (Operations Worker) FT w/Benefits
Permanent · BREMERTON
NAVY EXCHANGE
Asset Protection/Safety Investigator (Detective) FT w/Benefits
Permanent · BREMERTON
URBN
Anthropologie Omni Service Specialist Part-Time
Permanent · NOVI
Published
Sep 9, 2021
Reading time
2 minutes
Download
Download the article
Print
Text size

Fashion's flight from Oxford St continues as IKEA tipped to buy Topshop flagship

Published
Sep 9, 2021

​The number of fashion-focused shops on premier shopping thoroughfare Oxford Street looks like falling even further with news that IKEA is likely to take over the former Topshop flagship, in a key Oxford Circus position.


Photo: Sandra Halliday



It's believed the Swedish interiors giant will pay around £385 million for the prime site that has a long lease and is the last of the assets to be sold after the Arcadia fashion empire collapsed.

Property news site React said it’s on the verge of a deal to take over the building that also contains a Niketown store and a Vans branch (the latter in a space formerly occupied by Miss Selfridge).

The proceeds will pay off a £312 million mortgage that was taken out on the building in 2019 and £40 million of the purchase price should be heading towards the Arcadia pension fund.

Topshop had operated the store since 1994 and it was once a key destination for anybody interested in fashion who was visiting London, whether they were on a budget or usually shopped at higher-end designer labels. But its recent fall from grace saw it losing its lustre and the Topshop brand is now owned by online-only giant ASOS.

The building attracted plenty of interest from potential buyers and reports said that the billionaire owner of H&M, as well as landlord Great Portland Estates, had also been keen to buy it.

It's unclear how much of the building IKEA will occupy immediately (or eventually), but it underlines how fashion has fallen in importance as far as overall representation on Oxford Street is concerned. This had been happening for some time, but the pandemic precipitated the closure of a number of shops such as Debenhams, the Gap flagship, a Next flagship, and Topshop itself.

IKEA hasn't yet said what its plans are but has said that it's looking at different formats as part of its new approach to city centres.

Copyright © 2024 FashionNetwork.com All rights reserved.