Topshop to open flagship store on New York's Fifth Avenue
Topshop is to expand further into the US with the opening of a new flagship store in the prime retail district of New Yorks Fifth Avenue.
The 40,000 sq ft store will be the fashion retailer’s second largest store in the world after London. It will be situated on the corner of 49th Street in a registered art deco building built by Henry Goelet in 1931, which is adjacent to the famous Rockefeller Center.
With the store due to open in the autumn 2014, Topshop is set to create several hundred new jobs in the city both within retail and its new US head office.
Topshop, which is part of Sir Philip Green’s Arcadia Group, also plans to open four further US stores over the coming year. These will include Topshop and Topman joint stores in Fashion Valley San Diego, a stand-alone Topshop in Springfield Town Center Washington, Topshop and Topman joint stores in Galleria Mall Houston, and a store in Lennox Square Mall Atlanta.
Sir Philip Green said: “Following the investment of Leonard Green & Partners in December 2012, it was always our plan to significantly expand Topshop and Topman in the USA, and their input and expertise within this market has been very welcome. In addition to our flagship stores expansion, we are continually developing our topshop.com and topman.com $ sites, and our on-going partnership with Nordstrom continues to develop.
“I am very excited about Fifth Avenue, having looked for a location there for many years, and I believe this corner is both hugely prominent and perfectly located for our brands. I am also delighted to be entering new markets for the first time in the other great cities.”
Further international franchise expansion of the Topshop and Topman brands continues apace – with 80 openings in 13 countries in 2013 including Australia, Brazil and Hong Kong, whilst over the next six months a further 15 stores in eight countries are planned including Russia, Turkey and Vietnam.
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