Shangpin: Shangpin may raise up to US$150 million to bankroll Topshop's brick-and-mortar China foray

Topshop's Chinese partner Shangpin.com is seeking to raise between US$100 million and US$150 million to support the British high street chain's first brick-and-mortar push into mainland China with a goal of opening more than 100 outlets in five years. David Zhao, founder and CEO of the Beijing-based online fashion retailor, said the money will be used to lay a solid foundation for the opening of Topshop and Topman stores and the inaugural launch is expected to be in the fourth...