Topman
{{short description|British clothing retailer}}
{{about||the Mega Man enemy|Robot Master|the naval term|topmen}}
{{Use dmy dates|date=January 2020}}
{{Use British English|date=November 2010}}
{{Infobox company
| name = Topman
| logo = TOPMAN2018.svg
| logo_size = 300px
| logo_caption = Logo since 2018
| image = Topshop and Topman (17th December 2012).JPG
| image_caption = The former flagship Topshop and Topman store in Leeds, December 2012
| type = Subsidiary
| area_served =
| key_people =
| industry = Fashion
Clothing
Textiles
| genre = Retail
| fate = Converted into an online store
| defunct = 2021
| products = Men's fashion
| revenue = {{increase}} £1.8 billion{{citation needed|date=February 2021}}
| net_income = {{decrease}} £357.5 million{{citation needed|date=February 2021}}
| owner = ASOS
| homepage = {{URL|asos.com/topman}}
| foundation = {{Start date and age|1978|df=yes}}{{cite web|url=http://www.arcadiagroup.co.uk/about-us/our-history|title=Topman "Our History"|access-date=11 June 2012|publisher=Arcadia Group|url-status=dead|archive-url=https://web.archive.org/web/20140630131512/http://www.arcadiagroup.co.uk/about-us/our-history|archive-date=30 June 2014}}
| location = London, United Kingdom
| locations =
}}
Topman is a British online-only men's fashion retail brand operated by ASOS. Along with its women's clothing counterpart Topshop and the rest of Arcadia Group, Topman went into administration in late 2020. All high street stores subsequently closed and the brand was purchased by ASOS on 1 February 2021, relaunching as an online-only retailer.{{Cite web|title=Topman at ASOS|url=https://www.asos.com/men/a-to-z-of-brands/topman/cat/?cid=29065|date=10 June 2022|website=ASOS|access-date=10 June 2022}}
History
It was founded by Burton Group (later renamed Arcadia Group) in 1978.
In 2001, Topman's brand director, David Shepherd, was considered to have "done a Ratner" when he referred to his core clientele as "Football hooligans or whatever" and said that "Very few of our customers have to wear suits to work. They'll be for his first interview or court case".{{cite web | url=https://www.independent.co.uk/news/business/news/top-man-brand-director-says-his-suits-are-for-hooligans-9234576.html | title=Top Man brand director says his suits are for 'hooligans' | website=Independent.co.uk | date=19 July 2001 }}
In May 2019, the BBC and The Wall Street Journal both reported that, after its parent company Arcadia Group filed for bankruptcy, Topshop would close all 11 of its U.S. stores, including Topman. Apparel would be distributed digitally and through other wholesale partners, such as Nordstrom.{{Cite web|title=Topshop Is Closing All Of Its U.S. Stores After Bankruptcy Filing|url=https://www.bustle.com/p/topshop-is-closing-all-of-its-us-stores-after-bankruptcy-filing-17919436|last=Sciarretto|first=Amy|date=24 May 2019|website=Bustle|access-date=1 May 2020}}
In the UK, Arcadia Group went into administration at 8pm GMT on 30 November 2020.{{Cite news|last1=Butler|first1=Sarah|last2=Partridge|first2=Joanna|date=30 November 2020|title=Philip Green's Arcadia Group collapses into administration|language=en-GB|work=The Guardian|url=https://www.theguardian.com/business/2020/nov/30/philip-green-arcadia-group-collapses-into-administration|access-date=2020-11-30|issn=0261-3077}}{{Cite news|date=27 November 2020|title=Topshop owner Arcadia on brink of collapse|language=en-GB|work=BBC News|url=https://www.bbc.co.uk/news/business-55099374|last=Mustoe|first=Howard|access-date=27 November 2020}} On 25 January 2021, ASOS said it was in "exclusive" talks to buy Arcadia's Topshop, Topman, Miss Selfridge and HIIT brands out of administration, though it only wanted the brands, not the shops. A consortium including Next had earlier dropped a bid to buy Topshop and Topman; interest in Arcadia operations had also been expressed by Mike Ashley's Frasers Group, a consortium including JD Sports, and online retailer Boohoo.{{cite news |title=Asos frontrunner to buy Topshop, Topman and Miss Selfridge brands |url=https://www.bbc.co.uk/news/business-55786980 |access-date=25 January 2021 |work=BBC News |date=25 January 2021}}
On 1 February 2021, ASOS announced it had acquired the four Arcadia brands out of administration for £265 million, paying an additional £65 million for current and pre-ordered stock. ASOS will keep 300 employees on as part of the deal but will not keep any of the brands' 70 stores, putting 2,500 jobs at risk.{{cite web |last1=Makortoff |first1=Kalyeena |title=Asos buys Topshop and Miss Selfridge brands for £295m |url=https://www.theguardian.com/business/2021/feb/01/asos-buys-topshop-topman-miss-selfridge-arcadia |website=The Guardian |access-date=1 February 2021 |language=en |date=1 February 2021}}{{cite web |last1=Nazir |first1=Sahar |title=Asos acquires Topshop, Topman & Miss Selfridge in £330m deal|url=https://www.retailgazette.co.uk/blog/2021/02/asos-acquires-topshop-topman-and-miss-selfridge-in-295m-deal |website=Retail Gazette |access-date=1 February 2021 |date=1 February 2021}} They plan to relaunch in May 2021.
On the 5 September 2024, ASOS announced that it sold a 75% stake of Topshop & Topman to the Danish company Bestseller. It was announced that the Topshop & Topman websites would relaunch within 6 months of the deal with Bestseller, as well it was hinted that the brands could return to the high street with stores, the chief executive of ASOS commented "We might open stores. We will consider it for sure but we have no specific agreement to open a certain number".
Products
Topman was nominated for the 'Menswear Design of the Year' award by the British Fashion Council, winner of 'Best Fashion Retailer' at the Maxim Style Awards for 2005 and winner of 'Best High Street Retailer' at the 2007 FHM Fashion and Grooming awards.{{cite web|url=https://heartintelligence.be/hikashop-menu-for-brands-listing/category/21-topman|title=Topman|website=heartintelligence.be}}
In 2008, Topman collaborated with new label The Look Presents, the creation of rock-fashion author Paul Gorman and Soho boutique owner, Max Karie, to launch 'the Look Presents'.{{cite web|url=https://www.retailappointment.co.uk/career-advice/company-a-z/companies-p-t/topman|title=Topman|website=The Retail Appointment}}
In 2011, Topman worked closely with Teenage Cancer Trust. The company worked in collaboration with children from the charity to produce a range of sunglasses designed by them whilst supporting the 'Rock your Shades' campaign in May 2011.
References
{{Reflist}}
External links
- [https://www.topman.com Official website]
Category:2021 disestablishments in the United Kingdom
Category:2021 disestablishments in England
Category:2021 mergers and acquisitions
Category:Clothing retailers of the United Kingdom
Category:Retail companies disestablished in 2021
Category:Retail companies established in 1978
Category:Companies that have entered administration in the United Kingdom
Category:Companies that have filed for Chapter 15 bankruptcy