Topshop Leaves The Czech Market

Prague Morning

Prague Morning

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Topshop and Topmen - operated by the Kuwaiti company Alshaya - are about to close the store in Palladium by the end of this month. 

The official statement was published on their instagram profile. The main reason is the rising popularity of Topshop shopping online. The store's employees were informed about the closure about two months ago.

According to the financial statements, during 2018 Alshaya earned CZK 106 million, 13% less than in 2015. 

Topshop opened in the Czech Republic in April 2008 and sells clothes, shoes, make-up and accessories.

Its fast-fashion model works on high-turnover, low-cost product that is often produced at lightning speed; copies of runway styles by international designers can be on the racks within week, not the standard six months it takes regular retailers.

Along with its women’s clothing counterpart Topshop, Topman is a subsidiary of the Arcadia Group, which also owns Burton, Miss Selfridge, Wallis, Evans and Dorothy Perkins.

Author: red

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