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Planet Retail, promoted by Ramesh Tainwala and non-resident Indian V P Sharma, is in talks with Indonesian retailing and distribution giant Central Marketing Group (CMG) to launch Topshop here. CMG holds the rights for the Topshop and Topman brands in South Asian markets. Part of Sir Philip Green's Arcadia Group, high street fashion brand Topshop and menswear brand Topman compete with Zara in global markets. Earlier, Tata-run Trent and Arcadia Group had planned to open stores here, through a franchise agreement.
However, the plans didn't materialise. Trent chose to shelve plans to open Topshop stores and, instead, focus on expanding Zara's footprint in the country. Trent has a joint venture with Zara in India.
When contacted, Tainwala, also the co-promoter of Samsonite South Asia, said, "For the moment, there are many moving pieces to this and, therefore, I would prefer not to comment."
A mail to CMG didn't elicit any response.
Launched in 1964, Topshop has 319 stores in the UK and 137 franchisees across 37 countries. Topman has 230 stores in the UK alone. Consultants say India could be a major market for the UK chain, which is planning to double its global turnover in the next four years. The Topshop and Topman launch could be a major move for Planet Retail, which had sold the rights to Debenhams and the Next chain in India to Arvind last year.
"V P Sharma's Indonesian connections will come handy for the company in forging this partnership," said a source in the know.
Besides Topshop, Swedish fast fashion chain H &M is also readying for an India foray.
