Topshop Fashion Chain Said to Plan First Stores in Germany
Fashion chain Topshop, part of the Arcadia fashion empire owned by billionaire Philip Green, is planning to open its first stores in Germany, two people familiar with the plans said.
Topshop is negotiating real-estate locations in Europe’s biggest economy, said the people, who declined to be identified because the talks are private. The brand will open German flagship stores like the 30,000 square-foot outlet that opened in Los Angeles last month, one person said.
Green, 60, in December said that he plans to step up investment of the trendy teen retailer in the U.S. and to double the size of the Topshop and Topman business globally within the next four years. He sold a 25 percent stake in Topshop and Topman last year to private-equity company Leonard Green & Partners LP, raising 500 million pounds ($750.8 million) to finance the expansion.
A spokeswoman for Topshop, which sells clothes in Germany through a local language website, declined to comment.
Germany, and Berlin in particular, has been attracting international brands. Seventy-five retail concepts started in the country last year, including 52 new international retail concepts, according to a report from CBRE Group Inc. Berlin led the number of new leases in Germany last year, ahead of Hamburg and Frankfurt, the report showed. SuperGroup Plc (SGP)’s Superdry label were among the brands opening their first stores in Germany last year.
Topshop entered the U.S. in 2009 and is expanding globally into markets like Australia, Canada and South Africa. The brand is already present in continental countries including Spain and the Czech Republic.
Arcadia Group, which also owns U.K. fashion retailers like Dorothy Perkins, Miss Selfridge and Burton, reported a 25 percent gain in profit in the year ended Aug. 25 as it offered fewer markdowns.
To contact the editor responsible for this story: Celeste Perri at firstname.lastname@example.org