British fashion brand Topshop may open outlets in India

New Delhi: British high-street fashion brand Topshop is exploring possibilities to open outlets in India in a bid to tap the country's growing appetite for global fashion labels, as demonstrated by the huge success of rivals such as Spain's Zara and Sweden's H&M. 

Company officials have been studying the Indian market in recent months and have checked with some prominent malls to explore the possibility of opening stores, three people familiar with Topshop's plans said. 

"It is still in a very initial stage but they are interested in opening their stores," said one person. It is unclear when Topshop is expected to approach the government for a single brand licence, where India allows 100% foreign investment but on condition that such ventures source 30% of products locally. 

"Topshop is always looking for new opportunities globally and at present has nothing to announce in relation to the Indian market," a spokesperson in London said in an e-mail response to ET's queries. 

Topshop, famed for its collaborations with celebrities including English model Kate Moss and American reality television personality sisters Kendall and Kylie Jenner, is currently selling its products online in India through Jabong and is now encouraged to open brick-and-mortar stores here, sources said. It is part of the Arcadia Group, the UK-based fashion conglomerate that owns a host of fashion brands including Miss Selfridge, Dorothy Perkins and Burton Menswear. Arcadia also sells its Dorothy Perkins label on Jabong. The group operates more than 500 stores of its various brands in 35 countries in Europe, Asia and North America. 

Topshop leads Arcadia's pack of international stores with 173 outlets in about three dozen locations, followed by Dorothy Perkins with 134 stores, according to the company's website. 

Retail consulting firm Wazir Advisors estimates India's current apparel market around $45 billion and the firm expects the market to swell to $200 billion by 2025. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.