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Accessorize grew from the early business of Peter Simon, a British entrepreneur born in Ceylon, now Sri Lanka, in 1949. In the early 1970s, he sold ethnic clothing on London’s Portobello Road, including wool coats and block-printed garments from Rajasthan. In May 1973, he opened the first Monsoon store on Beauchamp Place in Knightsbridge, selling Afghan dresses and handwoven fabrics from Indian villages.

During the 1970s, Monsoon expanded across the United Kingdom. By the early 1980s, accessories sold inside Monsoon stores had become a strong category. In 1984, the company opened the first Accessorize store in Covent Garden, next to a Monsoon shop. The format focused on affordable jewelry, bags, scarves, and small leather goods with ethnic influences. A second store followed on Carnaby Street in 1986.

International growth began in 1992. By the end of 1997, the group had 76 standalone Accessorize stores and 103 Accessorize sections inside Monsoon shops. Revenue reached £107.9 million, with net profit of £15 million. Claire’s competed in the same affordable accessories segment, but Accessorize kept a stronger link to ethnic motifs and handmade-style products. In 1998, Monsoon floated 25% of its shares on the London Stock Exchange, raising £80 million.

The group launched Monsoon Home in 1999 and online stores for both brands in 2000. In 2007, Simon bought out external shareholders for £185 million, returning the company to private ownership. In 2016, the group announced 141 store closures and began separating the operations of Monsoon and Accessorize. After a £22.5 million loss in 2018, the business entered administration in 2020. Simon bought it back through Adena Brands Ltd., keeping the brands but cutting stores and 545 jobs.