Mar 31, 2017 09:52 PM EDT
Sir Philip Green found himself losing his most-prized managing director to The White Company just weeks after the tycoon handed his personal fortune to BHS. Mary Homer's departure marks the series of resignations from Topshop in the recent months.
Mary Homer was influential in making Topshop the global brand that it is today by constantly managing and leading fashion on the High Street. Once again, Sir Philip is in the headlines just weeks after he agreed with BHS to pay £363 million. This is to help cover the deficit in the BHS pension's scheme. The retailer tycoon describes Homer's resignation as an amicable one.
"It's totally amicable. There's no dramas, as will no doubt be portrayed," he said in a statement reported by the Financial Times.
Homer has been managing director of Topshop for 11 years. She began working 30 years ago as a merchandiser and eventually worked her way up. She was responsible for leading the expansion of the Topshop brand, which currently operates 620 stores with franchises in more than 40 countries.
International expansion will also be Homer's agenda when she starts working in The White Company. Combining homewares and fashion, the company founded by Chrissie Rucker will open its first store in New York this coming June. On the other hand, hiring a replacement for Homer's position in Topshop will be the latest challenge for Sir Philip. He is set on looking for a product specialist who has been a part of the online revolution.
Meanwhile, an analyst notes the impact that Homer's departure will mean to Topshop saying that her fashion instincts were key players to the success of the brand. "Her quick reactions to trading in and out of product trends and procuring an agile supply base has ensured the retailer has remained one of the key players in the increasingly competitive young fashion market," GlobalData retail analyst Sofie Willmott said as reported by BBC. But she adds that the remaining senior management in Topshop are equally experienced and well-established, which Sir Philip should take full advantage.
The former Topshop managing director is not the first to resign from the Arcadia Group in the recent months. Burton managing director Wesley Taylor, Topshop retail director Craig McGregor and Yasmin Yusuf, Miss Selfridge's creative director have all quit due to unknown reasons.
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