Gone are the glory days of high street fashion. Brands like House of Fraser and Marks & Spencer became frequent headliners with drastic retrenchment and store closures.
This year, another ship goes sinking – Topshop is closing down its last physical outlet in Singapore.
Topshop Closing Its Singapore Chapter
Located in VivoCity is the last of Topshop’s outlets in Singapore.
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Unfortunately, that will soon become history.
The British fashion retailer plans to bow out of the Singapore market completely on 17 Sep 2020.
Before rolling its shutters for good, the VivoCity outlet will be having stock clearance promos. The prices are slashed by up to 70%.
On top of the discounts, you get a third piece for free with the purchase of two clothing items.
The End of An Era
At its peak, the brand boasted ten brick-and-mortar stores in Singapore. Their products could be found in Raffles City, Marina Square and other major shopping malls.
In fact, the establishment at Orchard Road used to be Topshop’s only flagship store outside of New York and London.
Additionally, it was the largest Topshop in Asia back in 2010.
One of the last to close down was in ION Orchard.
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All non-essential businesses halted operation in 2020’s second quarter due to Circuit Breaker.
However, the outlet remained closed even after moving into Phase 2.
While its closure wasn’t officially announced, ION Orchard has since dropped the brand from its online store directory.
Arcadia Group’s History
The Arcadia Group’s origin dates back to 1903 when menswear chain Burton was formed.
Making its bucks by selling demob suits to the British government after World War II, the retailer would go on to take brands like Topshop and Dorothy Perkins under its wings.
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In 2002, Sir Philip Green acquired the Arcadia empire. With his no-frill methods of running businesses, he propelled the group to further success.
In particular, Topshop was touted as Arcadia’s crown jewel. Its position in the high fashion was cemented through collaborations with high profile celebrities and artists, including supermodel Kate Moss and designer Michael Halpern.
An Industry in Decline
Despite Topshop’s status as a pioneer in democratizing glamour and newness to the general consumers, the high street industry faced serious competition.
The market observed a rapid landscape shift from high street to fast fashion. Up and coming brands like H&M and ZARA corroded retail’s revenue share with online sales.
In 2019, Arcadia Group USA filed for bankruptcy and retracted its physical foothold in the States in an attempt to work towards digital growth.
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Even so, judging by its withdrawal from Singapore, it might have been a bit too late.
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