

For my article this week, I read about UK's clothing retailer, Topshop, finally opening their New York flagship store after a long-awaiting arrival! The article said that the retialer would open its doors in April, and along with other in-house designers, fashion model and movie star Kate Moss will be a part of the main event!
Top Shop was supposed to open about seven months ago, but there was a slight delay, and even after millions of dollars of spending during an economic recession, Arcadia group's CEO, Sir Philip Green, said he was not worried about opening the new store. Arcadia Group owns Topshop, and last year alone, the company profited £4.5bn globally and Topshop alone made a profit of £120m, with a $25m profit in the US. Sir Philip Green plans for the store to make four times that amount in the US this year.
The article stated that Green also plans for Topshop to boom in the US because of the store's fashion forward, trendy, fast fashion, in-house design teams. The turnover is fast, and the fashion excels. Americans are becoming more fashion-forward and brands such as H&M, Zara, Urban Outfitters, and Topshop are recognizing this trend.
Personally, I can't wait to shop at a Topshop store. I have been waiting for this for quite sometime. I finally got to go to a Zara store while in Vegas and I was not let down. I really do believe that America's youth and young adults thrive for fashion moreso than past gernerations in the US. I know that today when I was folding clothes, I looked at a stack on my bed and realized I had bought EVERY ITEM within the past MONTH!! All of my friends, colleagues, and classmates seem to have this same spending pattern.
This past year, Urban Outfitters and American Apparel were also quite profitable, so I agree that Topshop will do really well in the US. Plus, the opening of new stores here in America will also create new jobs!!
Article Source: Topshop's New York store to open in spring. 16 February, 2009. retrieved from http://www.guardian.co.uk/lifeandstyle/2009/feb/16/topshop-new-york-store-philip-green
No comments:
Post a Comment