Price will join the business on Sept. 4 and report to Green, who has also shaken up Arcadia’s parent, Taveta Investments. Earlier this week, Green named Karren Brady, ceo of England’s West Ham United soccer team, chairman of Taveta.
At Burberry, Price is responsible for all products across women’s, men’s, accessories and children’s. He has been in the role at Burberry for almost a decade. As reported, Price’s successor at Burberry is Judy Collinson, who joined the company in May. Price has been working closely with Collinson on the transition.
Prior to Burberry, Price held a number of senior roles at Lucky Brand Jeans, Williams Sonoma and Banana Republic. He began his fashion retail career at Bloomingdale’s.
Price’s role at Arcadia is a new one. A spokesman for Green clarified that Philip Cooke will remain managing director of Topman, a role he’s held for the past two years. Earlier this year, Mary Homer left her role as managing director of Topshop to become ceo of The White Company, the bed, bath and homeware firm.
“I believe Paul will be a great catalyst in leading the next phase of Topshop and Topman’s global expansion,” Green said. Brady said she’s looking forward to a “new and exciting period” for the two labels.
Brady, who joined the Taveta Board as a non-executive director in 2010, replaced Anthony Grabiner, a barrister and member of Britain’s House of Lords.
Last year, Grabiner was caught up in the parliamentary inquiry into the sale — and subsequent collapse — of BHS stores. Green had owned BHS for 15 years and ended up selling it for one pound. The company also had a gaping hole in its pension fund, which was the subject of the parliamentary inquiry.
The BHS affair has since been put to rest, with Green vowing to pay up to 363 million pounds to fill the pensions gap.
According to the latest filings with Companies House, the official register of U.K. businesses, Green’s group of companies saw sales last year from continuing operations dip 2.5 percent to 2.02 billion pounds, while profit plummeted 88 percent to 16.7 million pounds.
The group also incurred a raft of exceptional costs totaling 129.2 million pounds, related to fixed asset impairment, provisions for onerous leases, costs related to the closure of BHS and the related regulatory investigations that followed the sale.
Taveta is the parent of Green’s Arcadia retail group, which comprises fashion brands Topshop, Topman and Miss Selfridge and women’s clothing retailers such as Evans, Burton and Dorothy Perkins.