Will the supermodel have the power to bring UK fashion stores here at last?
While its still speculation, it seems model Kate Moss and Sir Philip Green (the 7th richest man in the UK, and owner of BHS, Arcadia and TopShop) are scouting locations in China and in Hong Kong to finally bring TopShop – one of the biggest, absent brands of the UK – to Greater China…at long last:
Green is reportedly on the verge of signing a deal to rent space in the Shanghai Superbrand Mall and is scouting for further locations in Beijing and Hong Kong, in a bid to cash in on the sustained Chinese economic boom and Moss’ sky-high profile among the country’s youth.
The move will be spearheaded by the supermodel’s collections and, with the volume of potential sales in China significantly higher than those in the markets in which Topshop currently trades, Moss could bank a potential £25 million from the deal.
But is this more than too little too late, alot of TopShop’s competitors are already here and doing very well. More on this as it develops.