Topshop has closed its five stores in Japan but has insisted there are “no plans to pull out of this key international territory”.
The stores, all operated by franchise partner Mori Retail Systems, are believed to have closed towards the end of last month. Topshop had two flagships in Tokyo and stores in Yokahama, Osaka and Chiba Prefecture.
Topshop began its push into Japan in 2008 when it signed the Japanese rights to the brand over to T’s, a company jointly financed by Mori and private equity firm JBF Partners, according to fashion trade title WWD. At the time, the companies planned to open 10 or more stores in Japan.
A spokeswoman at Arcadia said: “The Japanese market is an important part of Topshop’s business and there are no plans to pull out of this key international territory. The stores in Japan are operated by one of Topshop’s franchise partners. We are working hard, and exploring all avenues, to ensure that the brand maintains its presence in Japan.”
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