Arcadia Group Limited, the British fashion giant that owns Topshop, has severed ties with its Chinese franchise partner, Shangpin.
In 2016, Arcadia Group had announced its plans to launch 80 stores in China with Shangpin with the intent of promoting its brands like Topshop and Topman on a global platform. However, in last 2 years, none of the stores were launched.
Substantiating further, an official from Topshop said that Arcadia brands (Topshop and Topman) and Shangpin have mutually decided to terminate the contract.
Arcadia Group was, however, quick to add that it still considers China as an important market and will continue to be on lookout for opportunities to develop its brands in the country.
Reportedly, while the consumers can continue to do shopping for Arcadia brands through Tmall.com till 30 November 2018, they will continue to get service from Topman.com and Topshop.com.
With eight of the high street’s best-loved fashion brands, Arcadia today employs 24,000 people across the world.
