British clothing chain Topshop is fighting its way into the world’s fastest-growing retail market with the opening of its first store in mainland China.
Per a report by the Financial Times, the British retailer announced the planned opening of five stores in China over the next year through an online collaboration with e-commerce site Shangpin.com, which already sells Topshop and Miss Selfridge brands.
Depending on the success of the mainland store openings, the company also plans to open another 75 outlets in the country. Topshop currently has a presence in the region with three Hong Kong doors.
“[This deal is] the start of a unique, exciting and exclusive partnership that will cement Topshop and Topman’s mission of becoming truly global businesses,” said Sir Philip Green, Chairman of Arcadia Group, which owns Topshop.
The news of the expansion to mainland China comes during a dramatic time for the company’s owner, as the British government looks into the businessman’s assets.
Topshop and Shangpin.com will manage the new stores, but it is currently unknown as to who will own them.
