Beyonce’s new clothing range with Sir Philip Green’s retail empire is set to launch next spring. Arcadia announced late last year it was teaming up with the global singing superstar for a 50/50 joint venture, called Parkwood Topshop Athletic – a new fitness and streetwear brand.
News of the launch date came as Arcadia owner Taveta Investments – the company that holds Sir Philip’s retail brands including Topshop, Dorothy Perkins and Burton – posted a 2% rise in underlying pre-tax profits to £202 million for the year to August 29 despite flagging store sales.
Sir Philip said the result came amid “challenging times” as the group reported a 0.9% fall in UK underlying like-for-like retail sales over the year, with total comparable sales 0.7% lower. And it revealed a gloomier picture so far in the new year as sales have dropped 2.3% in the first 10 weeks.
In its update on the Beyonce tie-up, Taveta said: “We are developing our distribution globally for the launch of this exciting new brand in spring 2016.”
