Jun 4, 2017

McKinsey to review Topshop strategy for Sir Philip Green

Sir Philip Green has given consultancy powerhouse McKinsey a broad remit to review strategy at Topshop, his flagship clothing brand, as the tycoon fights back against online retailers that have taken a slice out of high street apparel sales. Sir Philip's business interests are privately held and last filed accounts for the year to August 2015. Topshop, which is 25 per cent owned by Los Angeles-based fund manager Leonard Green, is widely regarded as the most valuable of Sir Philip's fashion brands. Last month Sir Philip mounted a rescue bid for the label's Australian arm following the insolvency of a local franchise partner. The consultancy's appointment, which was first reported by The Sunday Times, follows a torrid year for fashion retailers in the UK, which is home to two-thirds of Topshop stores.

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