Arcadia Group plans to open 28 US stores in 28 days as part of an expansion plan to launch 150 franchise stores across the world next year.
Owner Sir Philip Green has agreed to expand Topshop and Topman’s tie-up with US department store Nordstrom from 14 stores-within-stores to 42, with the 28 new stores opening in Nordstrom from this month.
The new push will take Topshop, now valued at £2bn, to major cities such as San Diego, Houston and Washington DC, adding to current stores in Los Angeles, Las Vegas and Chicago.
Sir Philip, who was speaking at a conference for Arcadia’s franchise partners last week, said that Arcadia, who own Dorothy Perkins, Miss Selfridge and Burton, would open more than 150 stores next year including in Australia, Vietnam and Canada.
“We are pushing on,” Sir Philip said.
Last year strong cash generation rose £33m to £330.4m as Arcadia grew its online sales by 20 per cent in the UK, as it thrived in challenging retail conditions. Topshop were one of the British brands to launch a show at London Fashion Week – which attracted the likes of Kate Moss and Anna Wintour.
The British Fashion Council estimate that London Fashion Week alone is worth £30m to the London economy alone with the UK fashion industry now worth around £21bn to the UK economy.