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Topshop, ShangPin Terminate China Partnership by Mutual Agreement

THE DEAL IS OFF: Topshop has parted ways with its Chinese franchise partner ShangPin, the Beijing-based fashion and luxury retailer, and said it’s looking for new opportunities to grow in the “hugely significant” Asian market.
Topshop, Topman said Thursday the ShangPin partnership was terminated early by mutual agreement. ShangPin was Topshop’s first Chinese partner, taking the brand into the country in 2014 via ShangPin.com.
“Topshop, Topman and ShangPin have enjoyed a successful working relationship since September 2014,” a Topshop spokesman said. He added that customers can still shop Topshop and Topman products through ShangPin and Tmall.com until Nov. 30. Customers will continue to be serviced via Topshop.com and Topman.com in the region.
The spokesman added that Topshop considers China to be “a hugely significant market for development. The company is currently exploring opportunities to further grow the brands in China.”
Topshop, Topman broke into the Chinese market in 2014 through ShangPin.com, a members-only Web site that offers registered users access to Western brands.
In December 2016, Topshop owner Sir Philip Green inked a deal with ShangPin to expand across Mainland China, with plans to open 80 stand-alone stores.
“The future of retail lies within offering an omnichannel shopping experience,” Green said at the time. “Bringing together Topshop and

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Via:: https://wwd.com/fashion-news/fashion-scoops/topshop-shangpin-terminate-china-partnership-by-mutual-agreement-1202772219/