Good news... and a little drawback. As many of you have heard, Top Shop will be opening in New York City on at a size of 40,000 sq feet on Madison Avenue. Sir Philip Green, who owns the retail group that owns Top Shop, Arcadia Group, commented upon the announcement of the pending opening of the store. "I always had it in my head that it would cost about $50 million to launch in the States and we can certainly afford that," he said. "I've been thinking about doing this for about 18 months. We have to prove that this is a brand that can travel."And travel it will, with Top Shop stores in India, Hong Kong, and China allegedly on the horizon.
However, it seems that Green is facing some drawbacks and calls the first New York City store a 'logistical nightmare'. The store opening, originally set for this fall, has been pushed back to March 2009. While Green has stated that he hopes to open shops on Madison, Lexington and Fifth Avenues and in Midtown, he best describes this frustrating set back by saying that "America is a new territory for us and we have to get it exactly right. This store can’t be a nine out of 10 when it opens; it has to be a 10 out of 10."
However, it seems that Green is facing some drawbacks and calls the first New York City store a 'logistical nightmare'. The store opening, originally set for this fall, has been pushed back to March 2009. While Green has stated that he hopes to open shops on Madison, Lexington and Fifth Avenues and in Midtown, he best describes this frustrating set back by saying that "America is a new territory for us and we have to get it exactly right. This store can’t be a nine out of 10 when it opens; it has to be a 10 out of 10."
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