Topshop to offer affordable eveningwear
“Dress Up, is just that: very elaborate, embellished pieces in fine silks and satin with beading and sequins,” Sir Philip Green, owner of Arcadia Group, the parent company of Topshop, said to WWD. “It will probably do quite well in Las Vegas, where we’ll have a bigger assortment of ‘going out’ apparel. Dresses is one of our strongest areas and evening shoes is also one of our strongest sellers. We’ll buy deeper into those categories. ”
Green believes the new collection fills a “hole in the market” as it offers accessible price points, such as a cocktail dress for merely $120 or a long silk gown available for $350.
Many of the items will be right at home in the City of Sin. The Dress Up line, for example, includes a colorful sequin dress with multicolored beaded fringe and a strapless pink option with layers of ruffles.
Featuring 180 feet of frontage, the new store will cost around $8 million to $10 million to construct.
Green revealed the company is considering a variety of leasing option locations. “We’re still looking at something else in New York, as well as Los Angeles and Miami,” he said.
The executive reports he is unconcerned by Las Vegas’ economic troubles. “Every city’s been through a downturn. There’s a lot of local people. There’s still sufficient people in the city,” he said, noting that while the Vegas flagship is fairly large, it does not approach the size of its London counterpart.
After opening a unit in SoHo in 2009, the label is trying to stay abreast of what styles New York shoppers seek the most.
“They like to stay in fashion,” Green said. “We’re not selling T-shirts and jeans. Trends is what they want to buy. We’ve got people on the ground in Las Vegas and Chicago. We’re doing our homework.”
Topshop also intends to open a flagship in Chicago on Sept. 7 or 8. “It would be nice to have Mrs. Obama as a customer,” he said. “We’re definitely looking to do pop-up stores in Chicago and Las Vegas. It’s good for familiarizing customers with the brand. If you do it off-site, in an area that’s not near the store, you can reach a new customer base. We did one in the Hamptons on June 18 for customers that don’t necessarily make it to the [SoHo] store.”
Located at 830 North Michigan Avenue, the new Chicago shop will boast around 100 exclusive pieces, including a suit in black lace and another in yellow and black.
Chicago and Vegas are not the only two cities Topshop is considering for expansion. The brand plans to open a Toronto flagship – scheduled for the second week of September – and a store in Brazil in February or March, plus it is eyeing Australia and Mexico for future shops. Green has also discovered the perfect location for a new U.K. flagship, situated close to West Ham and the 2012 London Olympic Park.
“It’s exciting to open in places where you’ve never operated before,” he said, “going into new territories, learning new things, learning about new markets.”
“I’ve wanted somewhere else where I can stay up late,” he explained, referring to the Las Vegas flagship.