UK: Topshop boss sells 25% stake to J Crew backer
Green said the funds will remain in the Arcadia Group, enabling it to continue to drive all of its businesses.
"Being debt free gives us the balance sheet and flexibility to look at other opportunities to consolidate or acquire, either on our own or in partnership with LGP, who have substantial capital available in their new fund," said Green.
LGP's experienced management teams and knowledge of retail in the US will greatly assist Topshop/Topman with their global expansion, added Green. He said that with LGP, the plan will be to step up its international investment programme as relevant locations present themselves around the world.
Arcadia has been working to expand the brand internationally, with market entries in the US, Brazil, Canada and Australia in recent years.
LGP is a co-owner of US retailer J Crew, which is set to enter the UK market next year.
Topshop and Topman parent company Arcadia saw its full-year pre-tax underlying profit rise 25% to GBP166.9m. Total sales were predominantly flat, but underlying UK retail like-for-like sales fell 3.2% and total like-for-like sales were down 0.7%.
How retailers deal with the omni-channel challenge varies greatly, as do opinions on how to integrate strategies for online, mobile and physical transactions....
More than 200 companies have now signed the Accord on Fire and Building Safety in Bangladesh following the collapse of the Rana Plaza factory building in Dhaka, which killed more than 1,100 people in ...
Delia's, which sells clothing for teenage girls and young women, has appointed former Gap executive Tracy Gardner to the newly-created role of chief creative officer....
Women's wear retailer Cache has appointed Arnold Cohen to the post of executive vice president and chief marketing officer....
US apparel, footwear and accessories retailer J Crew has promoted James Scully to chief operating officer, and Libby Wadle to the position of president of the J Crew brand....
- VF Corp confirms interest in Africa sourcing
- Will Amazon take over the US apparel market?
- US groups seek workable apparel provisions in TPP
- G-Star RAW pushes the boundaries of denim
- Pakistan textile mills fear rash of closures
- VF Corp ups guidance on "strong" Q2
- Under Armour secures Germany and Austria deals
- Metallised thread for "revolutionary" RFID tag
- Manufacturing in China falls to 15-month low
- Millennials "changing the game" for hosiery
- Ethiopia – the emerging textile and clothing industry
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Global market review of workwear - forecasts to 2019
- Management briefing: Factory safety and auditing: The key challenges
- Global market review of denim and jeanswear – forecasts to 2020