Trump tie-making firm enters race for Arcadia assets
A US clothing firm with links to the Trump family has emerged as a bidder for the pieces of Sir Philip Green’s Arcadia retail empire.
The Telegraph reported that G-III Apparel had become the latest company to throw its hat into the ring for brands such as Topshop and Dorothy Perkins.
The New York company has been involved in a number of the Trump family’s clothing ventures, including the President’s “Signature” tie collection.
It was also involved with daughter Ivanka’s fashion brand, which was closed in 2018 .
The Nasdaq-listed company is itself something of a family dynasty. It was founded in 1956 by Aron Goldfarb, and is now run by son Morris.
Links between the two families extend beyond business. When Trump became President, there were reports that Morris Goldfarb was in line to become an ambassador.
Now the firm has become the latest company to join the Arcadia auction, alongside fellow US firm Authentic Brands.
On this side of the Atlantic, Boohoo and Next are both lining up for bids, with parties for the next round set to be selected this month.
It is believed that Deloitte, which is running the process, is working to an end-of-February deadline for the sale.
Arcadia, which also owns brands such as Miss Selfridge, Burton, and Outfit, collapsed at the beginning of December, putting 13,000 jobs at risk.
Australian retailer City Chic Collective has already picked off the Evans brand in a deal believed to be worth £23m.
City PM has contacted G-III for comment.