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Topshop is ready to compete with the big boys on Fifth. WWD is reporting that the British brand is set to take over the 40,000-square foot space currently occupied by Lacoste on the corner of 49th Street and Fifth Avenue. It's slated to open on Halloween.
Owner Sir Phillip Green told the paper that this store, which will also carry Topman, will be "serving the upper end of the market" in order to keep up with its high-end neighbors. "We'll be developing the personal shopping offer, and we're discussing doing an 'edited' section of merchandise, showcasing things in a slightly different way, and doing Unique product for the American market."
This is the second Topshop store in the city—the first opened on Broadway in 2009. "It's taken a couple of years," Green told the paper of searching for an uptown spot. "We've negotiated a few times, gone right to the altar — and then been jilted."
This flagship opening is part of a larger push into the United States market—stores are also set to open in San Diego, Washington, Atlanta, and Houston within the next 12 months, and the company has earmarked up to $50 million for this expansion. This will also include a refurbishing of the Broadway store.
· Topshop Signs Lease for Fifth Ave. Flagship [WWD]
· Topshop Has Its Sight Set on Fifth Avenue [Racked NY]
· All Topshop Posts [Racked NY]