SYDNEY, Aug 26 — Arcadia — the parent company of Topshop and Topman — has confirmed it will spearhead a relaunch of both brands in the Australian market.
The company, helmed by British businessman Sir Philip Green, was placed into voluntary administration three months ago, following increased competition in the market after the influx of fellow international high street brands, such as Zara, Gap, H&M and Uniqlo.
As WWD reports, Arcadia plans to purchase the Gowings, Emporium, Bondi and Brisbane stores from its Australian franchisee, but will close down the remaining 13 locations it operated across the country, in a bid to manage its brands directly via a more targeted offering.
Both brands will also expand its online presence further into mainland China via a partnership with members-only web site Shangpin, with future plans to open up to 80 stand-alone stores across the country. — AFP-Relaxnews
