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....
This report provides an update of business news in the following categories: acquisitions, divestments and mergers; company strategies; corporate social responsibility (CSR); financial results; intern...
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....
- Speed to market key to Adidas 2020 growth plan
- SuperGroup to adapt sourcing model for speed
- GAFTI gears up for change in apparel auditing
- Fast Retailing ramps up sustainability efforts
- SOURCING: Production problems weigh on Pakistan
- Transparency call for German apparel firms
- Strike at Adidas and Nike shoe factory in Vietnam
- Lululemon Athletica on “strong growth” track
- Myanmar garments to benefit from export strategy
- H&M and Kering trial recycling technology
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Global market review of workwear - forecasts to 2019
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Outdoor performance apparel: peaks, valleys, and green fields
- Apparel Retail: Top 5 Emerging Markets Industry Guide