Music retailer HMV reopens legendary London flagship store and announces foray into continental Europe

Music retailer HMV has announced plans to reopen its historic flagship store on London’s Oxford Street later this year as part of a wider expansion plan.

The music chain closed in 2019 after filing for bankruptcy, but the company’s fortunes changed after Sunrise Records acquired Canadian businessman Doug Putnam later that year.

First opening on the site in 1921, HMV has become part of British pop music folklore, with links to The Beatles’ first breakthrough and a promotional and signing center that hosted events for Blur and the Spice Girls in their 90s heyday.

Putnam, who has a reputation for bailing out ailing retailers after also sponsoring Toy ‘R’ Us, said the company’s return to health is due to its fan and community-centric approach.

In response to the decline in the CD and DVD market with the rise of streaming, the retailer expanded its offering to include pop culture items, vinyl, film, TV and music technology.

It has also revived its tradition of welcoming music artists to its stores, hosting events and book signings for the likes of Charli XCX, Stormzy, Shania Twain, Raye and Ellie Goulding at its UK stores over the past year.

“Expanding our fan-centric pop culture offering is really working for us, and the reopening of our flagship store is the culmination of several years of hard work,” said Putnam.

“We are also opening stores in Europe this year, so while this is the culmination of a phase of work, we see it as a more exciting launch pad for an exciting new era for HMV.”

HMV currently has 120 stores in the UK, including specialty store Fopp in London’s Covent Garden and The Vault in Birmingham, which is considered Europe’s largest entertainment retailer.

The refurbished store at 363 Oxford Street will feature HMV’s new logo, layout and concept, which was first launched in the West Midlands town of Solihull, where a new look store will open in July 2021 to celebrate the company’s 100th anniversary .

HMV said the concept will be rolled out to 24 new locations by the end of 2023 – and retrofitted to 14 existing stores.