Major Brands leaving Oxford Street. A New Era of Shopping Transformation?

Oxford Street, one of London’s most famous shopping destinations, is undergoing a major change. Several big-name retailers are leaving, and new brands and projects are stepping in to reshape the area. This shift reflects changes in how people shop, rising rents, and the impact of the pandemic on city life. But what exactly is happening, and what does this new era mean for shoppers and the street itself? This article breaks down the key changes and what to expect next.

Oxford Street showing empty retail spaces and closed stores

Major Brands leaving Oxford Street

Several well-known retailers are planning to leave their stores on Oxford Street, especially those located in Park House, a prominent building on the street. These brands say they are struggling with low foot traffic and reduced spending, making it hard to justify staying.

Here are some of the key brands planning to exit Park House:

• River Island (flagship store)

• Zara

• Urban Outfitters

• Pandora (lease still active, no final decision yet)

• Swarovski

• Bershka

• Life Pharmacy

  
  

In addition, the Microsoft flagship store, which opened in 2019, closed in early 2025 to focus on digital sales rather than physical retail. Other big names that have left Oxford Street in recent years include Gap, TM Lewin, Sports Direct, House of Fraser, and Topshop.

This wave of departures highlights the challenges traditional retail faces on Oxford Street, where rising rents and changing shopping habits have made it difficult for some brands to thrive.

What Is Driving the New Era on Oxford Street?

The changes on Oxford Street are not just about stores closing. They are part of a larger plan to transform the street into a more diverse and attractive destination. The goal is to move beyond just shopping and create a space that offers leisure, entertainment, and a wider variety of experiences.

Key factors driving this transformation include:

• Changing shopping habits: More people shop online, reducing the need for large physical stores.

• Rising rents: High costs make it hard for some retailers to stay profitable.

• Post-pandemic urban changes: Cities are rethinking how public spaces are used, with more focus on social and leisure activities.

  
  

How Oxford Street Is Changing

The owners of Park House and other parts of Oxford Street are planning to reconfigure spaces to attract new types of visitors. Instead of just shops, they want to include restaurants and venues for social activities like competitive games and events.

Some exciting new openings are already planned or underway:

• A new IKEA flagship store will open in May 2025, bringing a fresh retail experience to the street.

• The Moco Museum, focused on modern art, will open near Marble Arch, adding a cultural attraction.

• Puma is preparing to open a new flagship store, signaling that some brands still see value in Oxford Street.

  
  

These changes aim to create a more balanced mix of retail, dining, and entertainment options, making Oxford Street a place where people want to spend time, not just shop.

Oxford Street with new retail and leisure spaces under development

What This Means for Shoppers and the City

For shoppers, the new era on Oxford Street means a different kind of experience. Instead of just visiting stores, people can expect more places to eat, relax, and enjoy activities. This could make the street more appealing to a wider audience, including families, tourists, and locals looking for entertainment.

For the city, revitalising Oxford Street is important to keep it competitive with other shopping and leisure areas. Empty shops and declining foot traffic hurt local businesses and the overall economy. The new approach aims to bring back vibrancy and make the street a destination for more than just shopping.

Looking Ahead

Oxford Street is at a crossroads. The departure of major retailers signals the end of an era, but the new projects and brands arriving show a clear vision for the future. This transformation will take time, but it promises a more diverse and engaging street that reflects how people want to shop and spend their time today.

If you visit Oxford Street in the coming years, expect to see fewer traditional stores and more places to eat, play, and explore. This new era could redefine what it means to visit one of London’s most iconic streets.