News

News & Scoops


2012 December 6

Sir Philip Green Sells Sizeable Stake of Topshop

Comments | | Print

Sir Philip Green at TOPSHOP/TOPMAN Chicago Store Opening Sir Philip Green at TOPSHOP/TOPMAN Chicago Store Opening
Getty Images
View Gallery

(NEW YORK) After rumors stirred yesterday regarding Topshop and Topman stake sales, it's been confirmed that Sir Philip Green has sold a 25 percent stake in Arcadia, which owns the duo of retail brands, to private equity firm Leonard Green & Partners LP, in an effort to raise roughly $800 million. The agreement follows months of talks between Green and the L.A.-based firm, which also holds investments in J.Crew and Neiman Marcus. The deal has resulted in Topshop and Topman's brand value collectively increasing to $3.22 billion. 

Green gained control of Topshop from Arcadia in 2002 but his unsuccessful attempt at snagging Marks & Spencer in 2004 ensued major financial consequences. While Topshop stores internationally are currently performing well, Arcadia's group retail sales at large fell by 3.2 percent this year. As a result of the sale, the Arcadia group has been freed from its bank debt, enabling Topshop and Topman to grow further internationally.

 




  • Meaghan Murphy

    The Daily Media

    Meaghan Murphy, formerly deputy editor at Self, has been named executive editor at Good Housekeeping...John Brodie, formerly executive editor at Hachette Book Group, has been named...

  • Gwyneth Paltrow

    Links of The Daily

    Goop’s CEO Is Leaving The Company [Racked] Following Gwyneth Paltrow’s decision to move the company from London to L.A., CEO Seb Bishop resigned...Lula Magazine Gets A Revamp [...

  • Anna Teurnell

    Marimekko Appoints Anna Teurnell As New Creative Director

    Marimekko has brought on Anna Teurnell as creative director to lead all of the design teams for the Finnish brand in Paris and Stockholm. Teurnell will handle the design strategy for...

View All