Sir Philip Green eyes Dreams as he opens Topshop in LA



Sir Philip Green, the Topshop tycoon, is interested in buying the beds retailer Dreams.

Sir Philip is one of a number of parties to have submitted bids for Dreams after it was put up for sale by private equity group Exponent (NasdaqGS: EXPO - news) earlier this year.

It is understood that Sir Philip is interested in selling Dreams beds as part of BHS, his department store chain.

News (NasdaqGS: NWS - news) of Sir Philips interest in Dreams comes as he opened a new flagship Topshop store in Los Angeles in the latest stage of the tycoon’s plan to expand the retailer in the US.

The LA outlet is the fourth of his Topshop/Topman shops to open in the US, with further sites in New York, Chicago and Las Vegas.

Sir Philip, who declined to comment on Dreams, said the latest store, located in The Grove, one of city’s most upmarket shopping destinations, is a “particularly exciting opening” for the company.

Topshop has 319 stores in the UK as well as franchises operating in 37 countries around the world. In addition to targeting the US, Sir Philip wants to take the British brand to China and last year agreed a deal to open a Topshop in Hong Kong.

Topshop is valued at £2bn after Arcadia, the fashion conglomerate led by the billionaire tycoon, sold a 25pc stake to private equity firm Leonard Green & Partners (Munich: A0JJY6 - news) .