The heyday of Oxford Street, Europe’s busiest shopping street, has felt like a distant memory for quite some time.
Everything seemed to worsen after Topshop’s famous flagship store closed in 2021. The situation deteriorated as numerous dubious American candy shops began popping up along its two-kilometre stretch.
Microsoft is the latest major brand to pull its retail space from the renowned street. The tech giant announced on Monday it was closing its 21,000-square-foot flagship store next month to focus on “digital growth”. The store opened in 2019.
Other major retailers, such as Gap, TM Lewin, Sports Direct and House of Fraser, have closed their Oxford Street locations in recent years.
Several other stories are believed to be vanishing from the famous London street this year.
It comes as a £1 billion investment is set to transform the street’s fortunes. Former Debenhams and House of Fraser stores are being turned into modern office buildings and a 25,000-sq-ft modern art Moco Museum will open at Marble Arch in the summer.
The Mayor of London, Sadiq Khan, is advancing plans to pedestrianise parts of the street as part of a £150 million proposal. The initiative aims to eliminate vehicles from the western portion of the street.
Here’s which famous stores may be closing in 2025.
NikeTown (temporary)
Nike’s flagship store, located at the famous intersection of Oxford Street and Regent Street, opened in July 1999. Since then, it has offered four floors of sportswear, activewear, footwear and accessories — and stations where customers can customise their purchases."
Charmaine Mason, Nike UK’s store director, described the store as a “sporting sanctuary of inspiration for the past 25 years.” In a LinkedIn post, she confirmed that the store would temporarily close this month.
"NikeTown is not truly departing," she wrote. "It will return, more magnificent, more daring, and as inspiring as ever."
Zara, River Island, Urban Outfitters, Bershka, Pandora and Swarovski
Some of the most recognisable fashion and jewellery stores could be set to disappear from Oxford Street because they’re not attracting enough customers.
River Island’s flagship store — and leading Spanish labels Zara and Bershka and renowned jewellery brands Pandora and Swarovski — are located in Park House, part-owned by the Central Qatar Bank.
"Park House occupies an entire urban block and offers 92,000 sq ft of retail space across the basement, ground, and first floors,” Park House spokesman Jonathan Strong told the Standard. “It’s positioned opposite Marks & Spencer and diagonally across from Selfridges, but it has struggled to attract footfall and generate retail spending."
"Most of the retail tenants in Park House are looking to vacate the building as soon as possible."
He added: “Going forward, we need to reconfigure the retail space to meet the needs of current and future tenants, ensuring the building continues to contribute to Oxford Street’s reputation as a premier international shopping destination.
"To achieve this, we believe it’s essential to diversify the building’s usage beyond traditional retail, incorporating restaurants and spaces for competitive socialising."
