Arcadia owner Sir Philip Green is believed to be targeting sales of between $30 million (£15m) and $40m (£20m) from his first US branch of Topshop, scheduled to open in New York this October.
Green arrived in New York this week to meet with key members of the US press to outline his vision for Topshop in the US and to show off the young fashion retailer’s latest wares. WWD cited the sales figures but did not reveal its sources.
Green told reporters that Topshop would not be Americanised for the market, that product would not be discounted despite the trend in the US for value prices. He also confirmed he was still looking for two more sites in the city.
Green is reported to have balked at the idea of opening Topshop stores in Mall locations and stressed that “street level” [high street] locations were better suited to the chain. Green was also bullish about the downturn in the US economy and insisted that the US and the UK market were much the same.
Topshop will arrive on Broadway in mid-October, as revealed by Drapers November 10. It will open a 40,000 sq ft four-floor store.