Everybody wants a piece. Mega-trendy British retail store Topshop is now considering using a Spring 2014 collection designed in collaboration with Kate Moss as a way to break into China’s consumer market, Reuters reports.
“This may be the launch of China. We’ve had a couple of offers to go to China with Kate,” the retailer’s millionaire owner, Philip Green, said on Tuesday.
The store plans to expand overseas as a way to make up for its ‘stagnant home market’. India, Brazil, and Mexico are also candidate locations for new shops.
Moss is now working on designs for the new collection with Topshop, even ‘trying on every piece herself’.
Topshop isn’t the only foreign-based company eager to tap the Chinese retail market. American Apparel has attempted to infiltrate the scene, but the company’s CEO Dov Charney cited Chinese consumers’ love of exterior high-end labels like Chanel as the reason his brand can’t seem to expand rapidly throughout The country.
According to a report by WantChinaTimes, around two percent of China’s population is consuming one third of the world’s luxury items, making up the ‘backbone’ of global luxury goods sales.
Although the huge majority of China’s population is unable to purchase luxury items, as the country’s economy grows so will its market, the magazine said. Research institutions have predicted that in the next three to five years, the role of the Asia-Pacific region in the global luxury markets will become even more transparent, especially in China.
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