Topshop - a chain of famous "instant noodles" fashion brands, has closed all stores in the US

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Fast fashion icon from UK has announced to close all 11 stores in America. According to BBC and Business Insider, Topshop’s UK-based parent group Arcadia has proposed to close 23 stores around the world (of which 11 are in the US) to avoid entering bankruptcy. Over the past three years, Arcadia has closed nearly 200 stores.

Topshop launched 10 years ago in the US but never expected to bring in huge revenue, because as soon as she was in her home country, Topshop had to face fierce competition from ASOS. Even the BST combined with the world famous diva Beyonce named Ivy Park does not meet the needs of customers. Beyonce terminated her contract with Topshop in 2018 after news of Philip Green, the president of Topshop’s Arcadia group, was accused of sexual harassment. She switched to partnering with Adidas.

Many experts say that Topshop is no longer suitable and popular with young people like ASOS or Zara because the styles are quite out of date and the quality is not really good. Philip Green also lost his billionaire position this month on the Sunday Times Rich list. Philip Green’s Arcadia Group has 1,170 stores in 36 countries and most of them are franchises.