DLF to bring clothing line Topshop
DLF has started blocking space for Topshop at some of its projects that may hit market late this year, including Promenade Mall coming up in South Delhi.
By Boby Kurian & Shruti Sabharwal, ET Bureau |
BANGALORE: UK retail tycoon Philip Green-led Arcadia Group is striking a partnership with realty major DLF to bring highstreet clothing chain Topshop to India. Sources said that Arcadia, the UK���s second-largest apparel retailer after Marks & Spencer, has been exploring tie-up options with several potential partners, but appears to have veered towards DLF, which is likely to emerge as the master franchisee for Topshop in India. The exact legal status of the proposed arrangement is still being worked out, the sources added.
DLF has started blocking space for Topshop at some of its projects that may hit the market late this year, including the Promenade Mall coming up near Vasant Vihar in South Delhi. When contacted, a DLF spokesperson said the company would not comment on speculation.
Topshop, with operations across 30 markets globally, is focused on high-end streetwear fashion with a skew towards women���s clothing and accessories. The clothing brand, which figures in the London Fashion Week, is also known for its celebrity collections, the latest being the Kate Moss line, unveiled in 2007.
DLF has started blocking space for Topshop at some of its projects that may hit the market late this year, including the Promenade Mall coming up near Vasant Vihar in South Delhi. When contacted, a DLF spokesperson said the company would not comment on speculation.
Topshop, with operations across 30 markets globally, is focused on high-end streetwear fashion with a skew towards women���s clothing and accessories. The clothing brand, which figures in the London Fashion Week, is also known for its celebrity collections, the latest being the Kate Moss line, unveiled in 2007.
| | | Also Read |
| | �� | |
| | �� | |
| | �� | |
| | �� |
Outside the UK and Ireland, Topshop���s big markets are in Southeast Asia, with stores in the Philippines, Indonesia, Singapore and Malaysia. Sources said Topshop is currently working on the next phase of its international development, involving a push into the biggest emerging retail markets such as China, Russia and India. Even for its China foray, the company is reportedly looking at tying up with property developers instead of retailers.
Mr Green, who acquired Arcadia Group as part of his buying spree of struggling British retailers, played a key role in revamping Topshop into a more fashionable brand in the 1980s. During that period, the company introduced its ���Unique��� line of clothing and also started its practice of associating with top celebrities.
Of late, however, the company has again come under a cloud as it faces stiff competition from players like the highstreet casual-wear retailer River Island and tough conditions in its home market, which Mr Green has reportedly said will only get worse. This year, the company has also placed its bets on the US market, where it is expanding rapidly.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
