Arcadia Has Collapsed: 5 Of Topshop’s Most Monumental Moments
With news that Topshop owner Arcadia has collapsed into administration, The Handbook’s Elaine Lloyd-Jones recalls an-almost life-long relationship with the brand…
What was your first Topshop experience? Mine is still etched in my mind, it was a hotly anticipated dress purchase for a secondary school social. It was a slinky, stretchy, weighty – in a bouncy way – and undoubtedly 100% polyester. Thinking about it, there’s probably a Topshop purchase that I can relate to most phases of my life – even the ones I’d rather forget.
From the age of 14 to 40, I’ve been visiting the high street institution to stylishly reinforce my wardrobe in one way or another. Back then, to visit in any Topshop store, was a teenage right of passage. Later, I came to rely on their Jamie’s – a pair of reasonably-priced, flatter-all, skinny jeans (I’m making a mental note to panic buy some). All the while in between, it was where I went for a trend-driven fashion buy – an ultra-cool embroidered kaftan for a holiday in Mykonos, a dazzling sequin cape for a Christmas party.
I even remember calling into the Oxford Circus store before work one morning, it was the only place open where I could buy a (relatively cheap) complete outfit change after a shameful all-nighter resulted in me not making it home. And I bought into most of the 15 Kate Moss for Topshop collections which ran from 2007 to 2010. For me, my most memorable life markers are inseparable from what I wore, so naturally Topshop features heavily throughout. Of course, I dabbled in Arcadia’s other brands too, Miss Selfridge and Dorothy Perkins, but Topshop was always that reliable old friend. Until more recently that is.
While Topshop once carried enough street cred to be featured on the pages of Vogue, and to be worn on the red carpet of the Met Gala by the likes of Nicole Richie, Hailee Bieber and Bella Hadid, somewhere along the line they lost their lustre. They just failed to keep up, they stopped innovating. Which is why this break-up isn’t exactly breaking my heart. While online-only supers like Asos and Boohoo offered insanely fast fashion, and brands like & Other Stories and Arket were crystal clear in their identity, Topshop was neither.
Between 2017 and 2018 the brand reached new lows – in 2018, Arcadia reported a £93.4m pre-tax loss and Sir Philip Green was also hit by accusations of bullying and abuse. With that they lost their woke Gen Z customers. In 2019 they announced the closure of 23 stores in the U.K and all 11 US stores. Today, 13,000 jobs hang in the balance while talks shift from a failed 30 million loan to a possible bailout from Mike Ashley of the Frasers Group (Sport’s Direct) and a buy-out from Boohoo – who have already acquired Oasis, Karen Millen and Warehouse.
Just fyi, at the time of writing this, Sir Philip and his wife (they’re worth £930m according to The Sunday Times Rich List) are docked off Monaco on their super yacht. Hopefully licking their wounds or social distancing, because a luxury holiday a this point would just be vulgar, right?! It appears that while money can buy you a get-out-of-any-tier-free card, it can’t buy an ounce of integrity. They do have roughly £350m in pensions to pay out, let’s hope they make good on that.
Whatever the outcome, we’re preparing to say bid adieu to the brand as we know it. As a tribute I’ve highlighted some of the most monumental Topshop moments of all time. Out of respect of my quarter-century long relationship with the brand, I’ve stuck to the highs…
- THE BEGINNING OF COOL
Jane Shepherdson, now CBE, joined Topshop at 21 as a Junior Allocator, she was appointed Brand Director in 1999. Her innate sense of style and knack of creating looks we love revamped Topshop, as well as transforming the way we dress. Everything Topshop did brilliantly during her tenure, was traced back to her – including their annual profits. They rocketed from £9m to £110m under her auspices. Shepherdson left Topshop to become CEO of Whistles in 2006. She is still considered one of the most important women in fashion.
2. THE KATE MOSS EFFECT
Kate Moss collaborated on 15 capsule collections for Topshop starting in 2007, the pieces still hold their relevance today. The designs managed to encapsulate the supermodel’s signature brand of effortless and edgy London cool. Queues formed, crowds gathered, collections sold out, and later, they appeared on eBay in their hundreds. It was a massive marketing coup or Topshop.
3. ADDING A TOUCH OF VOGUE
In 2011 British Vogue’s Kate Phelan joined Topshop as Creative Director breathing a cool, new attitude into the brand, and forging key relationships with the likes of the British Fashion Council. Topshop was still peaking at this point, its new power posse included Cara Delevingne and Jourdan Dunn. It was also the same year they progressively teamed up with Google+ to live stream the A/W show.
4. BEYONCÉ COMES ONBOARD
In 2014 Beyoncé formed a business partnership with Sir Philip Green (with a 50-50 split) to develop a range of streetwear. In March 2016 the 200-piece Ivy Park launched with the aim of creating a brand that captured Queen Bey’s aesthetic. In 2018, after the abuse allegations against Sir Philip Green came to light, she cut ties with Arcadia, and her company Parkwood bought out their 50% share in Ivy Park.
5. THEY MADE THEIR MARK AT THE MET
Candice Swanepoel wore custom-made Topshop to the Met Gala in 2017. Topshop also dressed Sofia Richie, as well as Victoria Secret models Joan Smalls and Behati Prinsloo that year. They all looked phenomenal and it would have been a great high to go out on. Unbeknownst to them, and us, it was downhill from here on out.
