advertisement advertisement advertisement The British fashion group Arcadia has fallen into administration (which is similar to filing for bankruptcy in the U.S.), putting 13,000 jobs at risk. Arcadia’s market share slumped from around 4.5% in 2015 to 2.7% in 2020. The group’s extensive portfolio of stores, which includes British staples like Dorothy Perkins, Burton, and Miss Selfridge, has long felt outdated. advertisement advertisement Arcadia’s prominence has waned over the years with dozens of outlets closing. Many industry experts and past employees lay the blame at owner Philip Green’s feet, citing lack of investment in online retailing and outdated ways of sourcing product. Topshop, a stalwart of teen and twentysomething fashion, and the jewel in the Arcadia crown, has become the latest fatality of this crumbling empire, and undoubtedly the one that has tipped it into administration. Topshop’s Legacy The legacy of the Topshop women’s fashion chain started in Sheffield and London in 1964, in the basements of the Peter Robinson department stores. The aim was to sell fashion made by young British designers. Crucial to the brand’s early success was Diane Wadey, a buyer known in the business for having a keen eye for young talent. In 1974, parent company… Read full this story
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