The original HMV store in central London is set to reopen later this year after a four-year absence.
The century-old music store chain closed its flagship store in 2019 after filing for bankruptcy. It was then acquired by Sunrise Records.
The return to 363 Oxford Street is due to a “dramatic turnaround” that will see HMV return to profitability in 2022.
The store will have different branding and a new layout.
The store, which opened in 1921, became a world-famous presence on London’s busiest shopping street and has hosted some of the music industry’s biggest acts, such as the Spice Girls.
In recent years, as demand for DVDs and CDs has slumped, the retailer has broadened its focus on merchandise, music technology, more live music and in-store book signings.
HMV said it will offer the new format, called HMV Shop, in 24 new locations and 14 existing stores by the end of 2023.
Sunrise Records owner Doug Putnam said the “new concept” stores would “really work.”
He added that new stores would also open in Europe in 2023, which would be a “launch pad for an exciting new era for HMV”.
- HMV unveils list of stores to close
- New plans to make Oxford Street more exciting
- Lure customers back to Oxford Street
Councilor Geoff Barraclough, Westminster City Council’s cabinet member for planning and economic development, said: “The return of this famous name is proof that enthusiasm is returning to the West End.”
Several large Oxford Street shops have closed in recent years including Debenhams, BHS and Top Shop.
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