Green’s Topshop has Oriental ambitions

Sir Philip Green has held detailed planning talks to open his Topshop fashion chain in China.

The retail tycoon, who is currently in the process of merging the poorer-performing Bhs department stores with his Arcadia outlets, is keen to expand Topshop worldwide, having seen its successful opening in New York last year.

While he has a host of destinations in his planning diary, it was the world's fastest-growing economy that he emphasised as a must.

"I have just had a long session on China. We have got to go to China and Hong Kong," he said.

Many Western companies have been badly burnt by opening stores in China, where only the very top luxury goods brands such as Gucci and Louis Vuitton have really thrived.

Marks & Spencer's flagship store flopped on its opening in Shanghai last year while Paul Smith is also thought to have struggled initially.

However, Topshop's more affordable prices, young target audience and British chic are an untested formula.

Green also has plans for other international openings, as well as further sites in the US such as Miami, Washington, Las Vegas and Los Angeles.

He added: "We've never done anything in Europe. I want to go to Paris, I want Milan. There's a lot still to do."

Green said the combined profits from the merged Bhs and Arcadia would be between £350 million and £400 million.