RetailWeek.com, reports that Sir Philip Green will kick start a 100 million dollar plan to expand in New York with 3 stores in light of the success of the Kate Moss TopShop brand. Green also plans to open a 100 more stores around the world including Paris, Scandinavia, possibly China and India.
Javno.com gives more details on this move, Green dismissed rumors that Topshop (bankers estimate that the retail company is worth 3.96 billion dollars) will list the company following the US launch.
Green estimates that to open a retail store opened with take about 9 months. He is looking in Manhattan for space of 150,000 square feet across the 3 stores.
This might be part of a bigger expansion. He may be able to succeed where rival retailer Marks & Spencer failed, breaking into one of the world’s most competitive markets.
