CHINA CLUB: The march of the big-ticket Chinese investor continues. Having just announced plans to buy Bally for an undisclosed price, Shandong Ruyi may have another European acquisition it its sights: Arcadia Group.
The Chinese textile giant that controls SMCP and Hong Kong’s Trinity Group is said to be eyeing Arcadia, parent of Topshop and Topman, according to a report in The Sunday Times of London, which a Shandong spokesperson later denied. “This is not the case and needs to be clarified,” the spokesperson told WWD on Monday.
The report said Shandong could buy all or part of Arcadia, which also owns high-street retailers such as Burton, Miss Selfridge and Evans. The sale of the Topshop and Topman properties could prove trickier as Leonard Green & Partners holds a 25 percent stake in those businesses. LGP purchased the stake in 2012 in a deal that valued the retailers at 2 billion pounds.
An Arcadia spokesman could not be reached for comment on Sunday, and industry sources have dismissed the report, which appeared in the paper’s business section. It would not be unusual for the aggressive Shandong to be looking at any number of Western companies, given its recent buying spree.
Earlier this month, it
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