Topshop and Topman valued at £2bn

on 06/12/2012 08:58:28

Topshop and Topman were today valued at a staggering £2bn (€2.46bn) after retail tycoon Philip Green sold a 25% stake in the fashion brands.

The entrepreneur's Arcadia Group, which also owns Bhs, Burton and Dorothy Perkins, netted £500m (€614.88m) after agreeing to sell the Topshop stake to American private equity firm Leonard Green & Partners.

The high-street magnate said the deal will help his group expand Topshop and Topman brands further across the US and internationally.