HMV is returning to Oxford Street later this year following a four-year absence.
The return to the flagship store at 363 Oxford Street – which closed in 2019 after the century-old music shop chain went into administration before being taken over by Sunrise Records – is due to a “dramatic turnaround”, with HMV returning to profit in 2022, reported BBC News.
The store will boast new branding – HMV Shop – and a fresh layout. There are plans to roll out the new format to 24 sites and 14 existing stores by the end of 2023, with Sunrise Records’ owner Doug Putman saying that the new concept stores were “really working”.
The Oxford Street store opened in 1921, becoming a famous presence on London’s busiest shopping street and hosting high profile music acts.
Recent years have seen HMV broaden its focus to include a wide range of merchandise, with a number of licensees enjoying success with the retailer.