Word: fashioners
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Since the awe-inspiring Tokyo Midtown development opened in the Roppongi district in March, well-heeled residents of the Japanese capital have been flocking to its dining outlets, offices and boutiques. Issey Miyake is among the retail tenants of this $3 billion cathedral of commerce-but the leading fashion designer is hoping that shoppers and office workers will also make tracks for an intriguing, sleek structure located in a grassy corner of its 25-acre site...
...fund manager. On the wall behind his enormous desk, there's even a photograph of Wall Street antihero Gordon Gekko. But on this May morning, the daytime television show flickering on his sleek, flat-screen set betrays his role as a master of an entirely different universe: women's fashion...
Green, the billionaire owner of the Arcadia Group, which controls a clutch of British clothing chains including Miss Selfridge and Wallis, is watching a spot about the latest fashion collection to hit Topshop, the jewel in Arcadia's crown. The much ballyhooed line inspired by Kate Moss--the supermodel's wardrobe formed the basis of the designs--went on sale the previous night at the chain's flagship store in London. Basking in the nonstop Moss-fueled coverage, Green can't help smiling: "You couldn't dream for a better start," he says. On May 9, the hype crossed...
...alone. Days after the Barneys launch, Green announced plans to invest $100 million in Topshop's first three stand-alone stores in the U.S.--including a 70,000-sq.-ft. flagship in New York City--next spring. Topshop's U.S. adventure is the latest charge for growth among fast-fashion retailers, which specialize in constantly updated collections of cool clothing at prices so low the clothes are almost disposable. Over the past nine years, Topshop has carved an enviable niche atop this sector in Britain by appealing to a broader demographic than its competitors, by getting its new designs quickly...
...Topshop turn it around? By heading (relatively) upscale. Tired of its reputation for tackiness and losing out to budget chains in the '90s, Topshop's managers decided to stop competing just on price. "The decision was made to create a fashion authority," says Mary Homer, a joint managing director of Topshop who's been at the retailer for 20 years. (Green, a retail entrepreneur with years of experience in various types of businesses, acquired Arcadia in 2002 and helped execute the strategy already under way.) The company now employs 22 of its own designers, up from about a dozen...