Billionaire Philip Green is opening up a new chain of
jewellery stores. The owner of the Arcadia retail empire which includes
Topshop,
Dorothy Perkins,
Burtons and
Miss Selfridge is starting up a new women’s retail chain called Muse in the UK.
The first Muse store has already been opened at Europe’s biggest
shopping mall, the Metrocentre in Gateshead. It has been reported that up to 50 stores are planned in the new venture, which will stretch from
London to Leeds.
Mr Green has teamed up with Alan Witzenfeld, a leading player in the UK’s
costume jewellery market, to create the new
women's fashion accessory chain.
Mr Witzenfield is the chairman and major shareholder of DCK Concessions, which operates more than 3400 high street concessions and includes Topshops Freedom brand and Miss Selfridges Diva range. DCK is part owned by HBOS, the
bank that lends to Mr Green’s Arcadia empire.
The joint venture between Arcadia and DCK has been confirmed by a spokeswoman from Arcadia and is being led by Arcadia’s property director, Grahame Smith.
The move into jewellery is thought to be the start of a radical change of strategy by Mr Green and possibly a move to the overseas markets.
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