"Los Angeles is the first opening since December when Sir Philip sold 25 per cent of Topshop and Top Man to Leonard Green & Partners, a US private equity firm. The all-cash deal valued the two brands at £2bn. The deal was done with US expansion in mind, he says. LGP is 'a strategic partner . . . they know the American market. They own 12 companies [and] they’re the biggest shareholder in Whole Foods, Sports Authority and others.'"