Business
Topshop returns to the high street, but can it get its cool back?
Karwai Tang/WireImage)For teenage girls like me in the 2000s and 2010s, going into a Topshop store was like being transported into a fantasy world.
There was music! Makeup! And fashion! All under one roof – with Topshop clothes often found on the pages of Vogue alongside high-end couture.
But somewhere along the way, things went wrong.
“Topshop lost its cool,” said fashion journalist Amber Graafland.
“And when that happens, it’s hard. Fashion is a fickle beast, people move on quickly.”
Then in 2020, its owner, Sir Philip Green’s Arcadia group, collapsed. All of Topshop’s physical stores shut soon after.
But Topshop is now launching a major comeback.
Standalone stores are returning to the High Street, Michelle Wilson, managing director of Topshop and Topman, confirmed to BBC News.
And on Saturday, Topshop is hosting its first catwalk show for seven years in Trafalgar Square. We’ve been told long-time brand muse model Cara Delevingne will be there.
It seems absence (and nostalgia) makes the heart grow fonder. As rumours of Topshop’s imminent return have been met by a wave of affection on social media, particularly among millennials and Gen-Z.
But industry experts say it will take more than nostalgia to make Topshop 2.0 a success.
‘They need to entice younger girls’
ShutterstockOne of the challenges that Topshop will face is attracting a new wave of shoppers through the doors.
Its previous core following are now women in their late 20s and 30s, but it can’t just rely on them, says Graafland.
“They will need to work hard to entice younger girls in,” she said.
What might help, though, is the nostalgia trend that has taken over social media feeds and High Streets in recent months (Joni jeans, anyone?)
Topshop’s team, for their part, think they can attract both older and newer groups.
“We want to deliver for those that are nostalgic for a brand that they felt like they lost,” Wilson said.
“But we absolutely want to appeal to a new demographic as well.”
Then, there’s the fashion. For me, shopping in Topshop as a teenager made me feel like the ‘it girl’.
On Saturdays, you’d breeze through racks to find the one item that justified taking money out of your barely-there bank balance.
When you bought it, you’d act nonchalant. “Oh this old thing? It’s from Topshop,” you’d tell your school friends, as if you could afford it all the time.
And I wasn’t the only one. Huge crowds would throng to the London landmark store to witness the launch of new ranges from A-listers like Beyoncé and Kate Moss.
Getty ImagesIn the 90s and 00s, designers “used to laugh at High Street fashion”, said Wayne Hemingway, a designer and co-founder of Red or Dead.
“They couldn’t keep up with the trends. Topshop was the only one that did.”
Hemingway, who worked with Topshop through its heyday, said a large part of its success was down to the team behind it, including Jane Shepherdson, its hugely influential brand director.
“They brought in second hand clothes for example, that’s normal now, but back then it was seen as absolutely radical to have a shopping department store doing that,” he said.
“You had the collaborations, the London Fashion Walk catwalk, all this design and excitement at High Street prices. It was so fresh, everyone wanted to be part of it.”
But over time, what people were looking for changed – and Topshop didn’t always keep up, said Graafland.
“They offered that unique London look. Then the girls who shopped there grew up, and they didn’t want that look anymore,” she said.
“You cannot afford to take your finger off pulse for one minute in fashion.”
She added that Topshop 2.0 would benefit from the fact its core aesthetic – the London girl look – is back in style, and that not many other retailers are offering it.
“If you look at the High Street now, there’s a strong Spanish presence, with the likes of Zara, and also a Swedish presence with H&M. When Arcadia collapsed, we lost that Britishness,” she said.
She added that a lot of the High Street is “playing it safe right now”, and that could also work in Topshop’s favour if can “get that cool edge back”.
Topshop’s team is confident that it can still win over shoppers with its trademark London-based swagger.
“We still think there’s a huge gap in the market for that,” Wilson said.
“The most important thing that we won’t forget, and maybe got forgotten about towards the end of the previous era, is that product is everything.
“It has to be the best quality product, the most fashionable product for our customer base, and bringing that at good value.”
And then there are the prices
Getty ImagesTopshop’s popularity peaked in the heady years before the cost of living crisis. Its team are aware of the stiff competition it now faces.
A pair of Topshop jeans will easily set you back about £50. Chinese fast fashion giant Shein offers them for about £17.
“If we’re just comparing Shein, then yes, I think most brands on the planet are at a higher price point than Shein,” Wilson said.
But she added: “We know that when we offer great fashion and great value for money then the product does sell very well, so absolutely no concerns about that to be honest.”
While Topshop might not churn out new pieces at the breakneck speed of its online-only rivals, in the past, it’s still faced questions over its environmental record.
For younger shoppers, this can be an important factor in deciding where to go.
Wilson, however, indicates the higher prices reflect a more sustainable model.
The firm’s focus, she said, is very much “on the livelihoods of people within the supply chain that we partner with and also the environmental impacts of the brand”.
‘There’s got to be a buzz around it’
PA MediaAfter Sir Green’s retail empire collapsed, the Topshop brand was bought by Asos.
You can still buy the items online on their website – but now, in-store shopping is coming back.
Topshop’s return to the High Street starts this month, with products set to be available to buy in certain stores.
But of course, the real interest is in the standalone stores which Wilson said are “definitely” coming back.
She wouldn’t give a date for their return, but said the aim was to open stores across the nation.
Topshop is choosing to relaunch at a time when the High Street continues to struggle. Just days ago, fashion accessories chain Claire’s collapsed into administration.
But Wilson said lessons have been learnt after what happened to Topshop 1.0.
“We’re just making sure we do it in the right way so that we don’t over-expand ourselves,” she said.
As for the stores themselves, it remains to be seen if they’ll have the same vibe as before.
For me, it was where I met friends after school, tried on eye shadow for the first time, and listened to DJs pumping out dance music.
In some stores you were able to order skinny caramel lattes, get your hair and nails done, and maybe even get a piercing or two if your mum wasn’t watching.
“Fashion is only part of the story. It’s about selling a lifestyle and an experience,” Graafland said. “There’s got to be that buzz around it.”
Topshop’s team say they won’t necessarily be replicating what it used to do, but rather, “finding ways to bring that into 2025 and do interesting things”.
Overall, the hopes are high.
“They will get the girls to the stores, I don’t doubt it,” Graafland said.
“The question is whether they can keep them there.”
Car-sharing firm Zipcar has confirmed it is stopping operations in the UK after launching a consultation late last year.
The move will hit the company’s roughly 650,000 drivers across the country.
On December 1, the US-based company told customers in the UK that it planned to suspend new bookings temporarily at the turn of the year.
The business, which had 71 UK employees at the end of 2024, launched a formal consultation with staff as a result.
On Friday, in a fresh email to customers, the business said it “can now confirm that Zipcar will cease operating in the UK”.
The company added: “In accordance with clause 7.5 of the member terms, please take this as your written notice that we will formally close your account in 30 days’ time.
“It’s not possible to make any new bookings with Zipcar UK at this time, but your account will remain open until February 16.”
It added that customers will be entitled to a pro-rated refund for any remaining periods on current plans or subscriptions, from the start of 2026.
Zipcar said this will be done automatically and will not require any action from users.
Accounts showed that the van and car hire firm saw losses deepen to £5.7 million in 2024 after a decrease in customer trips.
New Delhi: Good news for investors and market watchers! Even though February 1 falls on a Sunday this year, the Indian stock markets will remain open for trading on Budget Day. Both the BSE and NSE announced on January 16 that trading will take place as per normal market hours on February 1 for Budget 2026. This special arrangement ensures that investors can react to Budget announcements in real time, without waiting for the next trading session.
The NSE clarified the special trading arrangement in a circular, stating, “On account of the presentation of the Union Budget, members are requested to note that Exchange shall be conducting live trading session on February 01, 2026, as per the standard market timings (9:15 am-3:30 pm),” said NSE in a circular.
Union Budget 2026 to be presented on February 1 at 11 am
The Union Budget for 2026 will be presented at 11 am on Sunday, February 1, the Lok Sabha Speaker confirmed on January 12. In recent years, February 1 has become the fixed date for the annual Budget presentation, a trend that continued with the 2025 Budget as well. The upcoming Budget will also be a significant milestone for Finance Minister Nirmala Sitharaman, as it will be her ninth consecutive Union Budget, placing her among finance ministers with the longest uninterrupted Budget tenures.
Trading details for Budget Day explained
While most core market segments will remain open during regular trading hours on Budget Day, some services will stay shut. The BSE has clarified that the T+0 settlement session and the auction session meant for settlement defaults will not be operational. At the same time, the NSE confirmed that trading in capital markets and derivatives will continue as usual.
Stock market holiday list remains the same
The stock market holiday calendar for 2026 remains unchanged, with Indian exchanges observing 16 public holidays apart from weekends. The next scheduled market closure this month will be on January 26. In the first half of the year, markets will remain shut on key occasions such as Holi (March 3), Ram Navami (March 26), Mahavir Jayanti (March 31) and Good Friday (April 3). Trading will also be suspended on Ambedkar Jayanti (April 14), Maharashtra Day (May 1) and Bakri Id (May 28).
In the second half of the year, markets will close on Muharram (June 26), Ganesh Chaturthi (September 14), Gandhi Jayanti (October 2), Dussehra (October 20), Diwali Balipratipada (November 10) and Guru Nanak Jayanti (November 24). Christmas, on December 25, will be the final market holiday of 2026.
Last Updated:
Reliance Industries Q3 FY26 Financial Results | Earnings remained resilient during the December quarter despite pressure in upstream oil & gas exploration and production business.
Reliance Industries Q3 Results.
Reliance Industries Ltd reported a resilient performance in the fiscal third quarter, with consolidated revenue rising 10 percent from a year earlier to Rs 2.94 lakh crore, led by growth in its digital services, oil-to-chemicals (O2C) and retail businesses.
Net profit (pre minority) for the fiscal third quarter rose 1.6 percent from a year earlier to Rs 22,290 crore, while profit before tax increased 3.7 percent to Rs 29,697 crore.
Consolidated EBITDA rose 6.1 percent to Rs 50,932 crore, supported by earnings growth in the digital services and O2C segments, helping offset weakness in the upstream oil and gas business.
“Reliance’s consolidated performance in 3Q FY26 reflects consistent financial delivery and operational resilience across businesses,” said Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd, in a statement on Friday.
The O2C business benefited from a sharp increase in transportation fuel cracks, which rose 62-106 percent from a year earlier during the third quarter. This improvement was partly offset by lower downstream chemical margins and higher feedstock freight rates. Overall, O2C EBITDA rose 15 percent from a year earlier to Rs 16,507 crore, helped by higher volumes and a continued ramp-up in fuel retail operations.
The Jio-bp fuel retailing business maintained its growth momentum, with fuel volumes rising 24 percent, supported by strong growth in gasoline and high-speed diesel sales. The retail network expanded further, with Jio-bp operating 2,125 outlets at the end of December, a 14 percent increase from a year earlier.
“Robust growth in O2C business was led by significantly higher fuel margins with favorable demand-supply dynamics, along with operational flexibility. I am happy to highlight the strong growth in our fuel retailing business, with continuing expansion of the Jio-bp network,” Ambani added.
The digital services business delivered strong growth, with revenue rising 12.7 percent to Rs 43,683 crore. EBITDA from the segment grew 16.4 percent YoY to Rs 19,303 crore, aided by accelerated subscriber additions and a 170-basis-point expansion in margins.
Reliance Jio’s subscriber base increased to 515.3 million, with its 5G user base crossing 250 million during the quarter. Total home connects crossed 25 million, while JioAirFiber became the first fixed wireless access service globally to surpass 10 million subscribers, ending the quarter with 11.5 million users. Average revenue per user (ARPU) rose 5.1 percent from a year earlier to Rs 213.7.
“This quarter, Jio expanded its subscriber base further, through attractive propositions enabled by its comprehensive, indigenous technology stack tailored for Indian markets. The business delivered a robust financial performance with 16.4% growth in EBITDA,” said Ambani.
JioStar continued to report strong operational performance, maintaining leadership across key platforms and genres.
In contrast, the oil and gas business weighed on overall performance, affected by lower production from the KGD6 block due to natural decline in the reservoir and weaker price realisations, along with higher operating costs related to periodic maintenance activity. EBITDA declined 13 percent from a year earlier to Rs 4,857 crore. Revenue from the segment fell 8.4 percent to Rs 5,833 crore.
The retail business posted revenue of Rs 97,605 crore, an increase of 8.1 percent from a year earlier. Growth, however, was impacted by the distribution of festive demand between the September and December quarters, the demerger of Reliance Consumer Products Ltd, and GST rate rationalisation. Despite these, retail EBITDA rose to Rs 6,915 crore. During the quarter, Reliance Retail operated 19,979 stores, with a total operational area of 78.1 million sq ft, while hyper-local delivery operations saw a near fivefold jump in average daily orders.
“Our Retail business also had an eventful quarter, strengthening its portfolio with the onboarding of fresh new brands and product ranges. The demerger of consumer products business came into effect this quarter. With a broad and diverse product basket ranging from classic Indian brands to new age labels, the consumer products vertical is progressing on its accelerated growth trajectory with a focused organizational structure,” said Ambani.
During the quarter, capital expenditure stood at Rs 33,826 crore, which was fully covered by cash profits of Rs 41,303 crore. Net debt declined sequentially to Rs 1.17 lakh crore as of December 31, reflecting balance sheet stability.
Disclaimer:Network18 and TV18 – the companies that operate news18.com – are controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
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January 16, 2026, 19:28 IST
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