Topshop to enter India!

Fashion label Topshop is mulling over opening its outlets in Indian market to capitalize on the country’s growing interest for international fashion brands.

A sources informed a leading Indian daily, “It is still in a very initial stage but they are interested in opening their stores.” “Topshop is always looking for new opportunities globally and at present has nothing to announce in relation to the Indian market,” added a spokesperson in London.

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The fashion retailer has reportedly been studying the sentiments of Indian market in recent months to explore the possibility of opening stores in the country. However, it is yet to be seen when Topshop will approach the Government of India for a ‘single brand licence’, where the country permits 100 per cent FDI but with terms that such ventures source 30 per cent of products from the domestic market.

Topshop (originally Top Shop) is a British multinational fashion retailer of clothing, shoes, make-up and accessories. It has around 500 shops worldwide – of which some 300 are in the UK – plus online operations in a number of its markets.

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Last year, US clothing brand Aeropostale joined hands with Arvind Lifestyle to enter Indian market through a licensee agreement. Also, denim and casual wear firm Pepe Jeans has serious plans of expansions in India. It too has applied to the Department of Industrial Policy and Promotion (India) seeking permission to set up fully-owned retail stores across metro cities in the country.