Topshop to open in NYC in the spring
Topshop, UK’s most hippest brand, will be opening up stores in the US next spring. The company recently launched the Kate Moss collection which received rave reviews and sold out very quickly. The company is buoyed by its success and will set up stores on its own now, including a 70,000 sq ft flagship store in New York City. Topshop has carved a niche for itself with its trendy clothes at good prices and of good quality. According to Lauretta Roberts, editor at Drapers, a British fashion publication, the company’s combination of fashion and value has “changed the way we dress”.
Topshop made $200 million in pretax profit lat year, from revenues of $1.14 billion. Their strategy is no laughing matter, it’s all sound business sense. The company has been focusing on differentiating itself from all other retailers not on price but on fashion and style. By getting clothes into stores faster than anyone else, the company created a name for having the latest of designs at the good prices, but not necessarily at the cheapest prices.