BRITISH FASHION RETAILER "TOPSHOP" OPEN IN SOUTH AFRICA

British fashion retailer Topshop has opened its first African store in Johannesburg’s up-market Sandton City mall – a vote of confidence both in South African consumer spending and also the country as a way in to the rest of the continent.
The new, vast 9,500 sqm Johannesburg store houses both women and men’s merchandise from a host of its signature departments, and the comapny confirmed that a second store will open in the country before the end of the year. Edcon, the local franchise owner, says future store rollout will see additional stand-alone stores in major retailing centres across the country.
The high street shop’s launch follows that of leading Spanish retailer Zara, which also opened its first South African store in Sandton City mall in November last year, and then two more outlets in Cape Town and Durban.
In September, Australian retailer Cotton on Group revealed it plans to expand its brands in South Africa by opening up to 30 stores across the country.
Absa Investment’s Chris Gilmour told beyondbrics: “It’s a bit of a vote of confidence in South Africa. Firms like Topshop are not coming here because of South Africa alone, but as a means to launch into other parts of Africa.”
The Topshop opening comes after an announcement in July that local firms Edcon and House of Busby had obtained exclusive South African franchise rights for Topshop and Topman, which operate in over 750 stores globally, with South Africa being the 37th country to welcome the brand.
Topshop is part of the Arcardia Group, a privately owned retail empire that reported total sales of £2.7bn for the year ended in August. It says sales have been strong in overseas outlets such as São Paulo and Melbourne. The Topshop/Topman outlet in Australia opened last year and is set to reach sales of £15m in its first year, according to the August statement.
Arcadia Group owner and British retail mogul Sir Philip Green said: “This represents another step in our continued international growth, and I am confident that the South African customers will enjoy the retail experience and fantastic product offer that both our brands will deliver for them”
Topshop’s entrance to Africa’s retail market comes at a time when the continent’s swelling middle class continues to be a key drawcard for western firms. The appeal of a British brand is also an important factor. In April, a Barclays’ survey of 250 UK companies exporting to Africa said the reputation of British goods and services, as well as the expanding middle class, were top factors in providing the biggest opportunities for UK businesses. The study revealed South Africa is the most favoured country for exporters, followed by Nigeria and then Egypt.

British fashion retailer Topshop has opened its first African store in Johannesburg’s up-market Sandton City mall – a vote of confidence both in South African consumer spending and also the country as a way in to the rest of the continent.
The new, vast 9,500 sqm Johannesburg store houses both women and men’s merchandise from a host of its signature departments, and the comapny confirmed that a second store will open in the country before the end of the year. Edcon, the local franchise owner, says future store rollout will see additional stand-alone stores in major retailing centres across the country.
The high street shop’s launch follows that of leading Spanish retailer Zara, which also opened its first South African store in Sandton City mall in November last year, and then two more outlets in Cape Town and Durban.
In September, Australian retailer Cotton on Group revealed it plans to expand its brands in South Africa by opening up to 30 stores across the country.
Absa Investment’s Chris Gilmour told beyondbrics: “It’s a bit of a vote of confidence in South Africa. Firms like Topshop are not coming here because of South Africa alone, but as a means to launch into other parts of Africa.”
The Topshop opening comes after an announcement in July that local firms Edcon and House of Busby had obtained exclusive South African franchise rights for Topshop and Topman, which operate in over 750 stores globally, with South Africa being the 37th country to welcome the brand.
Topshop is part of the Arcardia Group, a privately owned retail empire that reported total sales of £2.7bn for the year ended in August. It says sales have been strong in overseas outlets such as São Paulo and Melbourne. The Topshop/Topman outlet in Australia opened last year and is set to reach sales of £15m in its first year, according to the August statement.
Arcadia Group owner and British retail mogul Sir Philip Green said: “This represents another step in our continued international growth, and I am confident that the South African customers will enjoy the retail experience and fantastic product offer that both our brands will deliver for them”
Topshop’s entrance to Africa’s retail market comes at a time when the continent’s swelling middle class continues to be a key drawcard for western firms. The appeal of a British brand is also an important factor. In April, a Barclays’ survey of 250 UK companies exporting to Africa said the reputation of British goods and services, as well as the expanding middle class, were top factors in providing the biggest opportunities for UK businesses. The study revealed South Africa is the most favoured country for exporters, followed by Nigeria and then Egypt.

Culled: blogs.ft.com
BRITISH FASHION RETAILER "TOPSHOP" OPEN IN SOUTH AFRICA BRITISH FASHION RETAILER "TOPSHOP" OPEN IN SOUTH AFRICA Reviewed by Editor Post on 03:18:00 Rating: 5

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