Arcadia Announces US growth
Topman is furthering its expansion in the US by opening a flagship store on New York’s Fifth Avenue, Sir Philip Green has confirmed.
The British retail mogul revealed plans for the Manhattan space, which is to be the retailer’s largest stateside store to date. The new location will be situated adjacent to the famous Rockefeller Centre and will also hold the brand’s sister label, Topshop.
As one of the world’s most famous retail streets, Fifth Avenue is a prime spot for upscale shopping as well as locals and tourists.
“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,” said Green.
The space is Topman’s second location in the Big Apple, following the opening of the brands’ first store in 2009 on Broadway. At 40,000 square feet, the new flagship store does not go as far as out-sizing London’s 90,000 square foot Oxford Street home.
The expansion marks the start of an important year for the Arcadia-owned firm. Having already opened 80 key sites for Topman in the past twelve months, Green’s empire is to open fifteen more stores in eight countries over the next year.
According to reports, the 61-year old will invest £30.6m fitting out the new Manhattan store before beginning work on openings in San Diego, Washington, Houston and Atlanta between 2014 and 2015.