Fashion retailer Topshop has announced that it will be opening a flagship store in a prestigious fashion location in the United States as part of its growth plan to capitalise on new markets. A 40,000 sq ft store will open on Manhattan’s Fifth Avenue in the third quarter of this year, making it the second largest property controlled by the Topshop / Topman brand – the largest being the 90,000 sq ft flagship store on the corner of Oxford Street and Regent Street.
Topshop has already seen huge success in the USA with a number of key locations, including Los Angeles, Chicago, Las Vegas and New York, already home to branded outlets. However, taking the step from the strip mall to a prestigious location such as Fifth Avenue marks a pivotal point in the retailer’s American venture, as this will help to bridge the gap between high street fashion and couture.
As part of the investment into US operations, Topshop owner Sir Philip Green has also revealed plans to open a new US head office in close proximity to the flagship Fifth Avenue branch. This property, the exact location and size of which is yet to be revealed, will house a marketing department, a number of buyers and also a visual merchandising team to further promote Topshop throughout the USA.
Sir Philip said he was “very excited” about the venture in a press conference earlier this week, at which time he confirmed that the expansion into the US would create “several hundred jobs” in New York and the surrounding area.
However, it is not only the US which will play a key role in Topshop’s growth over the coming months, as the brand has confirmed a total of 15 stores under the Topshop and Topman name will open across eight countries by August of this year. The selected countries are yet to be made public, but it is safe to assume that Germany stands a strong chance of making the shortlist – British Retail Consortium/Google Retail Monitor statistics showed that the European country contributed strongly to the 64 per cent leap in overseas online searches for Topshop goods during the fourth quarter of 2013.
Yet some have voiced the concern that Topshop may be overstretching itself in a bid to capitalise on overseas popularity.
Tryzens digital solutions commercial director, Daren Fitzgerald, says; “To meet the demands of customers in the US, or elsewhere in the world, while still maintaining the essence of who Topshop’s strong brand personality is, will require the right technology and marketing professionals to be aligned cross-borders and cross-channels.
“The logistics to achieve this are phenomenally complex.”
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