Topshop and Topman were today valued at a staggering £2 billion sterling after retail tycoon Philip Green sold a 25% stake in the fashion brands.
Green's Arcadia Group, which also owns Bhs, Burton and Dorothy Perkins, netted £500m after agreeing to sell the Topshop stake to American private equity firm Leonard Green & Partners.
The high street magnate said the deal will help his group expand Topshop and Topman brands further across the US and internationally.
Topshop has been steadily increasing its international footprint in recent years and has 615 franchised shops across 39 countries.
Mr Green signalled a potential spending spree to come as he said the cash from the sale will remain in the Arcadia Group, leaving it debt-free and offering the "flexibility to look at other opportunities".
''This is a very exciting time for the Arcadia Group, with a clear strategy now in place for Topshop/Topman to become major global players,'' he added.
The deal follows months of talks with Leonard Green & Partners, which has a history of retail investments in the US, including organic food group Whole Foods Market, fashion chain J.Crew, Neiman Marcus luxury department stores and pet products retailer Petco.
In Arcadia's recent full-year figures, Green said international Topshop stores were performing well, with its fledgling Melbourne outlet on course for £15m sales in its first year after record results. Shops in Sao Paulo, Brazil, and Vancouver in Canada have also recorded strong opening performances.
But the wider Arcadia group saw like-for-like retail sales fall 3.2% in the year to August 25 as it endured "very challenging" high street trading.
The sales disappointment was offset by moves to sell less discounted stock, which helped improve margins and grow underlying full-year profit by 25% to £166.9m from £133.1m the previous year.
Trading since the summer also picked up, with comparable store sales up 0.7%, including VAT, in the 10 weeks of its new financial year.
