TOPSHOP FLAGSHIP STORE IN SOHO
- London-based retailer opens their first U.S. flagship store at 478 Broadway near Broome Street in Manhattan
- “We see this as a launchpad for a business in America” – Sir Philip Green
- Milking the opening of the store; staging numerous parties/dinners for media, celebrities and socialites during opening week in advance of the debut
- High-octane ribbon cutting with Kate Moss on opening date (April 2)
- Kate Moss has been doing an exclusive collection for Topshop since 2006 and launches her spring line in tandem with the opening of the SoHo opening
- In addition, a Topshop van has been driving around New York handing out goody bags and gift card worth $5 to $500
- SoHo location mirrors the Oxford Circus flagship in London:
- Four-level
- 40,000 sq. ft. space
- 28,000 sq. ft. for selling
- 2,000 stock keeping units
- 30-foot ceilings
- 15,000 sq. ft. media and event space housed in-store to facilitate the selling; eight person style advisors in women’s and two in men’s
- Each selling floor is 6,000 to 7,000 sq. ft.
- DJ booth that plays music on busy shopping days/special events
- Above all, it’s the product, and not so much the architecture/décor, that does the talking
- Topshop is a business that’s built on a strategy of selling irreverent, youthful clothing long inspired by the hip music scene
- Will not stage markdowns seen everywhere in retailing, but stages only four sales a year
- Does not price promote, though the store offers students 10% discount
- Costs have been kept in the $20–$25 million range
- First overseas store that is owned, not franchised
- J.C. Williams Group estimates their first year sales will be about $1300 / square feet
