Topshop is set to open its first store in Hong Kong next year in its next step towards becoming a “global brand”.
Last week, it emerged that Leonard Green & Partners had bought a 25% stake in Topshop and Topman, owned by retail tycoon Sir Philip Green. The deal ,which valued the business at £2bn, will enable Topshop and Topman to expand internationally.
The 12,000 sq ft Hong Kong store, will be opened with partner Lab Concept, the new retail subsidiary of luxury department store Lane Crawford, within the mall it operates in Asia Standard Tower, Queens Road Central.
Arcadia said the area is becoming a hub for international fashion brands. It will have “prime” street frontage and trade across two floors.
Topshop owner Sir Philip Green said: “This is certainly a very exciting step in the continued growth of Topshop as a global, yet uniquely British, brand. I am confident that the fashion-loving Hong Kong customers will enjoy the retail experience and fantastic product offer that Topshop will deliver for them.”
Lab will also provide operational expertise, including staff and logistics support while Topshop will manage the merchandising.
The ground floor will have two distinct rooms, showcasing Topshop fashion lines in one and its accessories and makeup in the second. Upstairs will feature a Topshop dedicated shoe lounge and a personal shopping service.
Topshop has opened in Australia, Brazil and South Africa of late, however the Far East is a “key priority” for growth. The retailer already has 27 stores there, with five opened in the year.
Lane Crawford president Andrew Keith said: “The timing for market entry couldn’t be better – we are seeing dramatic growth in our own contemporary businesses in Lane Crawford and LAB Concept and we believe there will be great customer anticipation for the launch of Topshop next year.
“We are looking forward to a long-term partnership with Topshop with the potential to hopefully optimise our multi-channel distribution platform in Greater China.”