Topshop Topman end franchise agreement with China’s Shangpin
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British apparel group Arcadia has terminated its contract with Chinese franchisee Shangpin to represent its Topshop brand in the PRC.
Arcadia chairman Sir Philip Green had announced plans to open 80 stores in the region with the Chinese franchise partner in 2016 said that it signalled “the start of a unique, exciting and exclusive partnership that will cement Topshop and Topman’s mission of becoming truly global businesses”.
None of the planned stores eventually opened.
A spokesperson for the brand said “Topshop, Topman and Chinese franchise partner Shangpin have reached a mutual agreement to an early termination,” but the UK company nonetheless considered China a “hugely significant market for development”.
The company said it continues to seek opportunities to grow Arcadia’s brands in China.
Questions & Answers
Q.Why has Arcadia terminated its agreement with Shangpin?
Why has Arcadia terminated its agreement with Shangpin?
The article states that Topshop, Topman, and Shangpin reached a mutual agreement for an early termination of their contract. No specific reasons for the termination are provided within the text.
Q.What were the original plans for Topshop and Topman in China?
What were the original plans for Topshop and Topman in China?
Arcadia chairman Sir Philip Green had announced plans in 2016 to open 80 stores in the region with Shangpin. This was intended to cement Topshop and Topman’s mission of becoming truly global businesses.
Q.Were any of the planned 80 stores opened in China?
Were any of the planned 80 stores opened in China?
No, the article explicitly states that none of the 80 planned stores eventually opened. This indicates the partnership did not proceed as initially intended.
Q.Does Arcadia still intend to expand its brands in China?
Does Arcadia still intend to expand its brands in China?
Yes, Arcadia considers China a “hugely significant market for development” and the company continues to seek opportunities to grow its brands there.
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