British well known fashion brand Topshop might open outlets in India in a bid to tap the country's growing desire for global fashion labels, as demonstrated by the huge success of rivals such as Spain's Zara and Sweden's H&M. Company officials have been researching the Indian market in recent months and have checked with some prominent malls to explore the possibility of opening stores.
It is unclear when Topshop is expected to approach the government for a single brand license, where India allows 100% foreign investment, but on condition that such ventures source 30% of products locally.
According to a spokesperson from London, Topshop is always looking for new opportunities globally and at present has announced nothing in relation to the Indian market. Topshop, famed for its collaborations with celebrities including English model Kate Moss and American reality television personality sisters Kendall and Kylie Jenner, is currently selling its products online in India through Jabong and is now encouraged to open brick-and-mortar stores here.
It is part of the Arcadia Group, the UK-based fashion conglomerate that owns a host of fashion brands including Miss Selfridge, Dorothy Perkins and Burton Menswear. It operates more than 500 stores of its various brands in 35 countries in Europe, Asia and North America.
Arcadia also sells its Dorothy Perkins label on Jabong. Topshop leads Arcadia's pack of international stores with 173 outlets in about three dozen locations, followed by Dorothy Perkins with 134 stores.
As per authentic reports, India's current apparel market estimate is around $45 billion and the firm expects the market to swell to $200 billion by 2025.