topshop (clipped to polyvore.com)
This week, Sir Phillip Green finalized a deal with Leonard Green & Partners to sell a 25% stake in Topshop and Topman.
So what does that mean for Topshop? Major growth, especially in the U.S.
Green tells WWD the “very simple” plan is for Topshop and Topman to “double their size in the next three to four years.”
They’ll continue their relationship withNordstrom, where they installed shop-in-shops at 14 locations around the country earlier this year. “They’re still in the picture and we’re excited about developing with them,” said Green.
They also plan to open up shop in Los Angeles on February 14 followed by a second Manhattan location.
New co-owner LGP, who also invest in J.Crew, Neiman Marcus, and Whole Foods, among others, told Green they feel Topshop can go into “at least 50 cities.”
According to Green, Arcadia Group, which owns Topshop, is now debt-free, allowing them the “flexibility to look at other opportunities to consolidate or acquire,” which could mean adding real estate or another retail business to their portfolio.
According to Business Insider, shares in Marks & Spencer rose 1.5% due to speculation that Green, who tried to buy the retailer in 2005, might make them another offer.
Or perhaps, he’ll finally strike a deal with one of the celebrities he’s always having lunch with like Kanye West or Gwyneth Paltrow, or invest in his daughter’s green-soled shoe line.
The possibilities are endless, but what we can say for sure is that Topshop is poised for U.S. domination. We wonder if this means Americans will start dressing more hip and edgy, while the Brits, who are about to get their first J. Crew, will start dressing…even preppier?