List 2 Sir Philip Nigel Ross Green: The King of the High Street
Born on 15 March 1952 in Croydon, England, Sir Philip Nigel Ross Green arose from humble beginnings to become a titan of British business, the man once dubbed the “King of the High Street”. Despite his fair share of controversies, Green’s journey in the world of retail serves as a testament to his acumen, tenacity, and resilience.
Born into a middle-class Jewish family, Green grew up in the comfortable surroundings of Hampstead Garden Suburb, North London. His father, Simon Green, a successful property developer and electrical goods retailer, left a profound impact on young Green, instilling in him the spirit of entrepreneurship. However, Simon’s untimely death when Green was just twelve left him the daunting task of taking over the family business.
With the flame of entrepreneurship ignited at an early age, Green left school at 15 with no O-levels and began his journey in the bustling streets of East London, working for a shoe importer. It was during this time that he travelled to the US, Europe, and the Far East, gaining precious insights into global business. At the tender age of 21, with a loan of £20,000 backed by his family, Green set up his first business, importing jeans from the Far East to sell on to London retailers.
Green’s breakthrough came in 1979 when he bought the entire stock of ten designer-label clothes retailers that had gone into receivership at rock-bottom prices. He gave the newly bought clothes a brand-new look and began selling them to the public, marking the beginning of his rise in the retail industry.
In 1988, Green became the chairman and chief executive of Amber Day, a discount retailer. However, after the company failed to meet its profit forecast in 1992, he resigned and embarked on his most ambitious journey – the Arcadia Group. In 2002, Green and his wife, Tina, acquired the Arcadia Group, which boasted High Street chains such as Burton, Dorothy Perkins, Evans, Miss Selfridge, Outfit, Topshop/Topman and Wallis. Under Green’s stewardship, Arcadia became a private company, delisted from the London Stock Exchange.
For nearly two decades, the Arcadia Group dominated the UK high street with over 2,500 outlets and several hundred franchises in other countries. Green’s stewardship saw the group’s expansion into department stores like Debenhams and Selfridges. However, the company was not immune to the economic hardships brought about by the COVID-19 pandemic. In 2020, the Arcadia Group entered administration, and ASOS acquired its Topshop, Topman, and Miss Selfridge brands in 2021.
Despite his business ups and downs, Green’s contribution to the retail industry earned him a Knighthood in 2006, further consolidating his position as a stalwart of British retail. Yet, his journey hasn’t been without controversy. His actions prior to the demise of BHS in 2016, and allegations of tax avoidance, worker rights issues, and personal conduct have raised eyebrows and led to several investigations.
Green has also made a significant mark in the philanthropic world. In 1980, he registered the Kahn Charitable Trust, dedicated to “putting lost smiles back on the faces of less privileged persons across the globe.” He has donated generously to several causes, including supporting the Fashion Retail Academy and the Retail Trust, contributing to the search for Madeleine McCann, and funding new beds at the Royal Marsden Cancer Hospital.
As we examine the life of Sir Philip Green, we can’t ignore the diverse and contradictory aspects of his persona. The sharp contrasts between his successes and his controversies serve as an invaluable lesson for future entrepreneurs. Green’s story reveals a man with an insatiable drive for success, a keen sense of business opportunity, and an ability to navigate through the turbulent seas of retail. It reminds us that the road to success is often marked by bumps and curves, and it is how we negotiate these hurdles that shapes our journey.
