Philip Green is treading boldly. His popular fashion retailer Topshop has announced a giant deal with Beyoncé to make athleisure and streetwear. But this is no ordinary collaboration – after all, when you hook up with one of the world’s most famous women, it to be something more than the kind of deal you’d do with a mere supermodel or designer.
Instead the two have signed up to a 50:50 JV and via their new company, Parkwood Topshop Athletic Ltd, will create dance, fitness and sports clothes and accessories with an emphasis on both fashion and performance.
The news came as Topshop parent Arcadia reported profits up 5% to £251.6m on sales flat at £2.06bn in its latest year.
Beyoncé is well-known as a Topshop fan but neither she nor her new business partner are dropping any hints about exactly what the range will look like. All we know so far is that it will launch in April and will be global.
I’m counting the days…