Philip Green: UK’s Retail Baron
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Code : LDS0004
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PHILIP GREEN, THE RETAIL BARON – A PROFILE Greenwas born in Corydon, South London, in 1952, into a comfortablemiddle-class family. At the age of 12, after his father’s death, Green began to help his mother in the family’s electrical goods and property business, which helped him to enhance his entrepreneurial skills. “He alwayswanted to earnmoney. Thatwas his ambition ever since he helped me out with the business in the summer holidays,”8 said Green’smother.At the age of 16, he left the school without any qualification and started his retail career byworking for a Chinese shoe importer... Bhs AND CLOTHING INDUSTRY With a history of over 75 years, British Home Stores grewfroma single store to one ofUK’s leading fashion retailers, with 161 stores inUK and 48 overseas franchised outlets. In 1986, British Home Stores merged with Mothercare to form Storehouse plc and ‘Bhs’ replaced British Home Stores as a registered company name.13 The new company was rejuvenated with a new logo and corporate image. The buying and merchandising operations of Bhs were organized into sevenmain divisions – womenswear,menswear, childrenswear, home, gifts, lingerie and food services... GREEN’S INITIATIVES AT BHS As a part of his turnaround strategy, Green appointed Terry Green, a former boss of Debenhams, a department store group, as the new CEO. Commenting on the new CEO’s appointment, Green said, “His track record is outstanding. This appointment demonstrates our serious intent for Bhs to be a leading catalyst in the retail industry.”21 Analysts also welcomed Terry’s appointment. “Terry Green is very well regarded, and was seen as being key in turning Debenhams around. Bhs will hope that he can do the same for them.... |
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