British fashion retailer Topshop has unveiled plans to expand into the Chinese mainland with the opening of five new stores in the country next year.
To be done in partnership with online fashion retailer Shangpin.com, the Sir Philip Green-owned chain could open another 75 stores in China if the initial openings are a success.
The Topshop and Miss Selfridge brands are already sold through ShangPin.com – an ecommerce business with 30 million registered users – and there are three standalone Topshop stores in Hong Kong.
Green said the deal was “the start of a unique, exciting and exclusive partnership that will cement Topshop and Topman’s mission of becoming truly global businesses”.
Retail experts have said Topshop was the most valuable part of Green’s Arcadia Group retail empire, and although it has 300 UK stores, there are only 140 outside the country.
Arcadia said the new Chinese stores stores would be jointly managed by Topshop and Shangpin.com, but would not confirm who would own them.