Topshop’s sales in Australia could eclipse those of international fast fashion chains Zara and H&M after an equity injection and concession agreement with department store chain Myer.
Topshop franchisee Hilton Seskin says sales of the hip British high-street brand could reach AUD300 million (USD209.3m) in the next few years as 20 Topshop and 20 Topman concessions are opened in Myer stores, augmenting sales from additional stand-alone stores.
In comparison, sales at Group Zara (Australia) reached AUD179 million in the year ended January and H&M booked sales of AUD68 million in 2014, although H&M sales are expected to soar this year after it opens its first store in the Sydney CBD at the end of October.
(Source: The Sydney Morning Herald Online )