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Topshop's US arm booms in Nordstorm as Beyoncé's brand launch edges closer

By Vivian Hendriksz

26 Nov 2015

Fashion

London - In spite of a strenuous year on the UK high-street, Topshop's fashion arm in the US with Nordstrom has been booming over the past year, with 50 percent increase in retail sales as the imminent launch of Beyoncé first collection edges closer.

Following the release of the annual financial results of Sir Philip Green's company Taveta Investments Ltd., the chairman of Arcadia Group confirmed the upcoming release of the collaborative range with artist Beyoncé, which is slated to launch end of March 2016. The collection is currently in production and has been tried and tested by the artist herself to ensure "it's right."

As previously, reported Sir Green and Beyoncé formed a 50/50 joint venture company, known as Parkwood Topshop Athletic Ltd, to create a global athletic streetwear brand which will be sold in approximately 25 countries.

The confirmation comes as Topshop/Topman continues to prosper within US department store Nordstorm, with retail sales growing 50 percent year-on-year in the 12 months to August 29, 2015. Sir Green revealed that he predicts a similar 50 percent increase over the current fiscal year as well. "It’s a whole new game for Topshop at Nordstrom," he said to WWD. "People know the brand, it’s become a destination, and there is a new customer coming that likes new goods and a quick turn."

Sir Green added that he also sees "significant future growth potential" for their partnership with the US department store group and plans to expand its current store space this financial year. Topshop is currently trading through 94 shop-in-shop in Nordstorms and 84 Topman concessions in addition to offering the collection online via Nordstorm.com. The number of stand-alone stores in US has more than doubled over the past year to include nine stores.

However, the chairman is also aware that there is still "loads to learn" about the US market as the retail giant continues "to get educated" on the different consumer habits per city.

Image credit: Topshop US