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    Topshop'S Parent Company Shrank Last Year.

    2017/6/6 14:25:00 43

    FashionBrandTopshop

    Philip Green Philip Green banner

    Topshop

    , Topman, Dorothy Perkins and Miss Selfridge, etc.

    fashion

    The performance of the brand financial year was finally released as the holding company Taveta Investments Ltd. submitted the annual report to the Companies House company registry.

    In the fiscal year ending August 2016, controlling Topshop and so on.

    brand

    Direct parent Arcadia Group Ltd.'s Taveta Investments Ltd. sales declined, down 2.5% from a year earlier to slightly more than 2 billion pounds, making a 16% sharp decline in profits and falling to 211 million pounds.

    Cash reserves were basically flat at 223 million, but the company did not pay dividends.

    It is worth mentioning that in the past, Arcadia Group Ltd. Ltd. usually released its annual earnings report in August as of November, but the 2016 financial report did not come as scheduled. A British newspaper reported that the annual report of Taveta Investments Ltd. was also on the last day of the deadline - May 31st.

    The Taveta Investments Ltd., which is controlled by Philip Green wife Tina Green Tina Green, currently owns a share of Arcadia Group Ltd. 75%. According to the annual rich list, Philip and Tina are fifth among the richest couples in Britain, but their assets shrank 433 million pounds last year and fell to 2 billion 800 million pounds.

    Topshop website

    The performance of online sales in the fiscal year was not disclosed, while nearly 24% growth was recorded in the fiscal year ending August 2015. The overall revenue of Arcadia Group Ltd. in that year was unchanged from the end of August 2014 at the end of August 2014.

    According to the world clothing and shoe net, Taveta Investments Ltd. used most of the 100 million investment budget for the last fiscal year to enhance the online sales ability of Arcadia Group Ltd., and Philip Green has hired management consulting company McKinsey Co. McKinsey to improve its e-commerce strategy to offset the negative impact of sales decline of the flagship brand Topshop.

    Philip Green spokesman said the fashion retail tycoon declined to comment on its performance and cooperation, and McKinsey & Co. McKinsey declined to comment.

    According to research data, British online sales increased by 16% over the same period last year. Now online shopping has accounted for 1/7 of the clothing consumption of the British. The strong momentum of e-commerce has promoted the rapid growth of ASOS PLC (ASC.L) and Boohoo.com PLC (BOO.L), and Topshop, Marks & Spencer Group Group (Boohoo.com), Marsha and Marx, etc.

    However, both online and offline brands are investing heavily in website construction and logistics warehousing infrastructure, and their profits are under no small pressure.

    In March 2015, when Arcadia Group Ltd. released the BHS department store with a symbolic 100 million pounds, the BHS department store was declared bankrupt in April 2016, and the British entity shop of the old department store went bankrupt completely because of no one, and 11 thousand employees lost their jobs.

    Philip Green, who was under pressure from politics and the media, spit out 363 million of the about one billion pounds that had been searched in BHS's department store for 15 years to fill the pension deficit of 571 million pounds in the department store, and to maintain its knighthood.

    As for the existing business of Arcadia Group Ltd., it has also been badly hurt by the shrinking of Topshop.

    At the beginning of this year, the same store sales in the 2016 holiday season fell by nearly 11%, while the group's same store sales also fell by about 6.5%. Philip Green denied the accuracy of the newspaper data at that time. Topshop

    But it is already true that Topshop is encountering Waterloo in the international market.

    In late May, Topshop and Topman Austradia introduced Pty Austradia, a local franchisee in the Australian market in 2011, into voluntary custody. If there is no acquisition, it will go bankrupt and liquidation, involving 9 stores, 17 counters located in Myer department store, local online businesses and 760 employees.

    Arcadia Group Ltd. confirmed last week that it will try to save Australia's Topshop/Topman business in the annual sale of about 90 million Australian dollars.

    On the other hand, Philip Green's huge pension deficit in the face of Arcadia Group Ltd. is also a pressure mountain.

    As of March 2016, the deficit had reached 565 million pounds, higher than the 500 million expected by the market.

    The pension trustee of Philip Green and Arcadia Group Ltd. has reached an agreement on raising payments in March this year. Philip Green doubled the amount of money injected into the Arcadia Group Ltd. pension fund to 50 million pounds per year, and it will further increase to 5490 Wan Ying pound from 2019, but it is expected that it will not be able to fill the deficit until 2026.

    {page_break}

    Moreover, this year's Philip Green personnel from all over the top of the personnel earthquake so far.

    Over the past 11 years, Mary Homer, who has been general manager of Topshop, has officially joined White Company, a household goods company, as CEO last weekend. She has been working in Topshop since 1987 and has been leaving this year.

    Fiona Ross, general manager of Arcadia Group Ltd.'s Evans, GM's women's wear brand, announced its resignation in early April after serving the group 30 years ago. Wesley Taylor, general manager of Burton and general manager, and Miss Selfridge, creative director, have left.

    In late May, Taveta Investments Ltd.'s long term chairman Lord Grabiner was fired.

    In 2002, he began to lead the board of Taveta Investments Ltd.. After last year's BHS bankruptcy, corporate governance of Taveta Investments Ltd. was criticized. It was revealed that as the top commercial lawyer in the United Kingdom and Lord with the title of barrister, he was dissatisfied with his personal examination because of the bankruptcy of BHS.

    According to the quoted news, Philip Green is now putting 200% of its energy on Arcadia Group Ltd. after the setbacks in the past two years.

    One of the most important challenges facing Philip Green now is to let Topshop conquer the difficult Chinese market.

    In 2013, Topshop took Hongkong as a springboard to enter the Greater China region. In 2014, it entered into the mainland with cooperation with China's fashion supplier, and officially entered the mainland. It was established and operated by the Shang pin network. However, the entity expansion was finalized at the end of last year. The partners were still on the Internet. The two sides plan to set up 80 physical stores in the first three tier cities in the mainland. The first store is expected to open in Beijing or Shanghai by the end of this year or early next year.

    However, with the current situation of the brand and the increasingly difficult retail environment and intensified competition in the Chinese market, China's expansion plan still needs a big question mark.

    The saturated clothing market, fierce peer competition, and reduced shopping malls' passenger flow make the Topshop/Topman market look bad in the domestic market. What is more important is that the brand has missed the international large fast fashion brands such as Zara SA, H&M Hayne, Maurice, Uniqlo UNIQLO and Gap, and so on. The layout of China's freshness, superiority and adhesions has been greatly laid out. Topshop/Topman has only one choice for the Chinese middle class whose consumption habits and tastes are maturing.

    In addition, as an online retailer, Shang pin has little experience in traditional retailing, and the expansion of entity stores needs considerable financial support and greater risk.

    According to public information, the last round of C financing in Shang Ping network occurred in 2011, with a financing amount of US $50 million. Since then, there have been several layoffs in Shang Ping network, and no new round of financing has been disclosed so far.

    Investors who are familiar with TMT and consumer fields reveal to reporters that the cooperation projects between Shang pin and Topshop will eventually come down only through the way of franchising, otherwise they will remain on paper only to a large extent.

    More interesting reports, please pay attention to the world clothing shoes and hats net.

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