The famous store closed in 2019 after HMV went into administration. Photo: Jonathan Brady/PA Wire
HMV will return to its Oxford Street flagship store four years after closing.
The music retailer has announced a deal to reopen its iconic store on London's biggest shopping street.
The site was started by composer Edward Elgar in 1921, but closed in 2019 after HMV went into administration.
The company was bought out by Canadian retailer Sunrise Records, owned by billionaire Doug Putman. He said that the most popular store among HMV shoppers was the one in central London and they had been working on opening a store for a long time.
"We knew we needed to open a store. returned to London, and it seems that the time is right" he said.
However, Mr Putman said that while having one store “makes a lot of sense”, HMV will not open more stores in central London “unless things change and things get easier for them to operate”. .
HMV has stores in shopping centers in Shepherd's Bush in West London and in Bromley in South London. Sunrise Records also owns Fopp, whose flagship record store is located in Covent Garden.
HMV opens shop on Oxford Street after vinyl resurgence helped change business. Photo: Angela Dean-Drummond/Halton Archive. Luxury brands including Burberry, Harrods and Selfridges have criticized the government's decision to ban tourists from shopping without VAT. They claim that this encourages more tourists to spend money in other European cities, including Paris and Milan.
Mr. Putman, who also owns Toys "R" The United States, Canada, called for action to make Oxford Street more accessible to retailers and revive the West End, which in recent years has been flooded with American pastry and souvenir shops.
"We' We're getting there, but we're not there yet," He said. Mr. Putman cited business rates as one area the government “needs to look into.”
He added: “The more retailers around us, not just gift shops. the better for business.”
HMV opens store on Oxford Street after the vinyl renaissance helped change business. Earlier this year, HMV posted its biggest profit since being bailed out of administration.
Mr Putman said the London store would feature items similar to what shoppers remember, but with more vinyl, pop culture merchandise and apparel. . "It's a big store with lots of room to make a bunch of great stuff. We'll have bands playing and it's just a great place. We are very happy to be there"