Topshop to enter China’s fashion retail market

Fashion retailer Topshop will open its first China store early in 2008 at the Shanghai Super Brand Mall in the city's financial district, Reuters reported. The Super Brand Mall is also home to stores owned by rival retailers Zara and H&M. Topshop's move comes as foreign players rush to capitalize on China's booming fashion retail market, which is being driven onwards by changing lifestyles and rapid income growth. Overall retails sales in the country are tipped to grow by about 15% in 2007. Inditex, which owns the Zara brand, wants to open 15 stores nationwide while another Topshop rival, C&A, opened its first China store in Shanghai in April and will make a move on Beijing in 2008. Topshop plans to retain the "low price but good design" sales strategy targeting young Chinese when it first enters the country, according to sources familiar with the situation.