Principles and Warehouse set up for flotation

Principles and Warehouse, the fashion chains snapped up by Baugur-backed Shoe Studio Group earlier this year, are set for a flotation in Iceland in September. Chief executive Don McCarthy plans to list SSG on the Icelandic stock exchange at the end of the summer after achieving group sales of £450m. The move follows that of Mosaic, the Oasis-to-Karen Millen empire owned by Baugur, which is preparing for a listing in Iceland this week.

4 June 2005

Principles Signs London Flagship

Principles has signed a flagship in Regent Street, London after Whistles pulled out of a deal for the unit. The former Bally store, which will trade over 2,000sq ft with a mezzanine floor, will open in the first week of November. The store is next to Karen Millen, whose parent company bought Whistles last year. Karen Millen signed the unit in May as a Whistles flagship but sold the lease on for reasons that are unclear.

Peter Davies, chief executive of Principles parent group Rubicon, has stated had been searching for a store for the last 12 months and was delighted to have found this one. He said: "It will be a real plus for us internally as well as in trading terms." Principles has 70 stores and 175 concessions.

15 October 2003