LONDON — Arcadia has revealed plans to relaunch Topshop and Topman in Australia and continue operating four of its retail stores located in major cities, including Sydney, Melbourne and Brisbane.
The news comes three months after the company, which is led by retail tycoon Sir Philip Green, was placed into voluntary administration having been unable to face the increasing competition following the influx of a number of other international high street brands in the market, such as Zara, Gap, H&M and Uniqlo.
As part of the agreement, Arcadia will buy the Gowings, Emporium, Bondi and Brisbane stores from its Australian franchisee. The remaining 13 locations it operated across the country will shutter.
“We are excited to operate directly in the Australian market and look forward to delivering unparalleled fashion to our customers. We are delighted to be offering 290 jobs within the Australian market at Topshop and Topman,” said a company spokesperson.
Before going into administration, the company had over 760 employees.
The high street retailer has been making several efforts to expand internationally. At the beginning of the year, Green signed a deal with the online retailer Shangpin.com to spearhead expansion plans in mainland China. As part of the agreement, Topshop is working with Shangpin, a members-only web site, to develop its online presence further. It also plans to open up to 80 stand-alone stores across the country.