Retail in Asia

In Sectors

UK’s Topshop to enter China market

UK retailing billionaire Philip Green will open stores of his Topshop fashion chain in China as he looks to new markets to drive growth.

"I think we’ll go to China in the next year," the owner of Arcadia Group Ltd said in a May Bloomberg TV interview at his new store in London’s Knightsbridge shopping district.

Topshop is spending USD115-130 million a year on new projects and reported operating profit gained 13 percent in the year ended August 2009, while same-store sales were flat.