The 50/50 venture is set to launch in 20 countries across the globe this April, and we’re assuming that Australia is on their list – so prepare for even more Bondi divas to start wearing luxe yoga trousers on their way to grab a kale smoothie.
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The news came as the group’s owner Taveta Investments – which holds clothing brands including Topshop, Dorothy Perkins and Burton – posted total sales growing to £2.07 billion from £2.03bn 12 months previously.
United Kingdom retail like-for-like sales declined by 0.9 per cent while total underlying sales fell by 0.7 per cent.
The fashion industry was abuzz with speculation earlier this year when the retail entrepreneur and singer announced they were creating an all-new global company, Parkwood Topshop.
In its update on the Beyonce tie-up, Taveta said: “We are developing distribution for the launch of this exciting brand in spring 2016”.
The deal has been seen as unusual, as it will lead to the launch of a new company, whereas retailers and celebrities traditionally agree branding links or design collaborations.
The results are for continuing operations only and so benefit from the absence of the heavily loss-making BHS department store chain which Green offloaded to buyout firm Retail Acquisitions in March.
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Green, who has twice tried and failed to buy Marks & Spencer, called it “a robust performance in challenging times”. It will produce clothing, footwear and accessories for fitness, sport and dance.
