Topshop embarks on US expansion

The British billionaire businessman, Sir Philip Green, is turning his attention to the US and has acquired a 15-year lease at 40,000 sq ft site at 478 Broadway, Manhattan, New York.

Sir Philip said he is hopeful this will be the start of the American development of the Topshop/Topman brands, with further sites being considered. He added that Topshop is a brand that can go places.

He owns the Arcadia fashion empire with his wife Tina and the chain includes Burton, Topshop, Dorothy Perkins and Miss Selfridge.

There are Topshop outlets around the Middle and far east but they are run by franchises. The Manhattan store will be run by the Arcadia Group and it is estimated that costs for setting up the store will cost between £9-£12 million.

Supermodel, Kate Moss has been been designing small collections for Topshop since May this year and she is contracted until May 2009.

The association with the model has already brought the Topshop brand to greater prominence in the US, with her range stocked in the luxury New York department store Barneys when it was introduced. A spokesperson for Barneys described the range as a ‘hit’.

The Manhattan store is scheduled to open in September 2008.

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