Billionaire retail boss Sir Philip Green is launching a new clothing line with singer Beyoncé next Spring, his fashion group has revealed. Commenting
on the collaboration with Beyoncé, Topshop owner Arcadia said:
'We are developing our distribution globally for the launch of this exciting new brand in spring 2016.'
Currently
called Parkwood Topshop Athletic, the venture will launch a range of
athletic-streetware, and comes as Arcadia - which also owns the Dorothy
Perkins and Miss Selfridge chains - reported a 5 per cent increase in
annual profits to £251.6million today.
Describing
the current retail market as 'challenging', Arcadia's total annual
sales were £2.07billion, broadly flat with a year earlier.
Topshop
and Topman opened five new stores in the US in the last 12 months,
bringing the total in the US to nine. Approximately 34 new overseas
franchise outlets for Topshop and Topman were also opened, Arcadia
said.
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