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Tom Singh - From Wikipedia
Tom Singh OBE (born 1949) is the founder of the New Look chain of high street fashion stores in the United Kingdom. He is estimated to be worth in the region of half a billion pounds. He is also the eldest brother of author and broadcaster Dr Simon Singh. He is one of Britain's wealthiest people.
He is a graduate of the University of Wales, Aberystwyth where he studied international politics and geography.
Having floated New Look in 1998, Singh took it private again in 2004 through a takeover bid backed by private equity houses Apax and Permira.
He was appointed an OBE in the New Year's Honours List December 2006.
Tom Singh and family
New Look founder Singh, 58, must be regretting that bids of £1.7 billion for the Weymouth-based fashion chain were considered too low last year. The retail sector has suffered since but with 590 UK and Irish stores, the group is expanding overseas and online. The family’s proceeds from share sales amount to £200m and Singh’s 22% stake is worth £264m.
UK "New Look" leading fashion chain of stores's founder NRI may pocket £200 million - Tom Singh
London, May 16, 2007
Lakhbir Singh - nriinternet.com
NRI Tom Singh, 56, founder of leading fashion chain of stores- "New Look" could pocket £200 million from the company's sale.
"New Look" was established by Tom Singh in 1969 and has grown organically in the UK to become the UK’s third largest single fascia retailer of womenswear and have 543 stores in UK and Ireland; and 215 stores in France. It has also developed a substantial footwear offer, which has captured over 3.5% of the UK market share. New Look’s head office is in Weymouth and it has over 13,500 employees working in the UK and France. He with his wife Kuljit, borrowed £5,000 from his parents to open his first store
Trinitybrook plc, a company backed by funds advised by Permira and Apax made an offer to take New Look private in a €1.2 billion transaction in April 2004. He holds a 22% stake in the chain, is in the process of deciding whether to sell of his stake in New Look, which has an estimated price tag of £2 billion.
New Look chain of stores, which floated on the London Stock Exchange in June 1998. He later participated in a $1B transaction to take the company private again in association with Apax Partners and Permira Advisers.
Tom Singh said, “I have substantially increased my business activities in the cleantech space with family interests in renewable energy projects and technologies growing substantially. I have known zouk’s management since 1999 and am looking forward to being part of the team building one of the largest cleantech investment platforms in Europe.”
In September 2005, New Look acquired 34 Littlewoods stores from ABF, which will be opened during 2006. He is estimated to be worth in the region of over half a billion pounds. He is also the eldest brother of author and broadcaster Dr Simon Singh. He is one of Britain's wealthiest people.
He is a graduate of the University of Wales, Aberystwyth where he studied international politcs and geography.
New Look has around £1.1 billion of debt, meaning that the group's £900 million of equity will be split between Singh, New Look's management, Apax and Permira, company's private equity majority owners, and Landmark, Dubai-based retailer.
In 1996, Singh's family earned $170 million by selling 75% stake in the retailer to PPM, the venture capital company.
NRI Tom Singh among UK's top 10 retailers
on 12-08-2008 08:14 - chaisamosa.net
Tom SinghTom Singh's popular New Look fashion chain has been named in a list of Britain's top 10 privately-owned retail companies by The Daily Telegraph.
Urging its readers to "salute a nation of shopkeepers", the paper said Tom Singh is "a trail-blazer in inventing the cheap, 'fast' fashion that now dominates the UK high street".
Born in Thakarki, near Phagwara in Punjab, Singh came to Britain in 1950 at the age of one. His family went door-to-door selling from a suitcase and opened their first shop later in the 1950s.
Singh started his first shop with his wife in 1969, and in 1982 merged his stores with those of his parents to form New Look Retailers, a group of around 20 stores.
Entering the 1990s with some 40 shops in southwest England, the family became a strong regional retailer. It then began a period of rapid national expansion, growing to 200 stores by 1994.
Annual sales now are in the region of £1.2 billion a year, and the company is now expanding overseas, particularly in France, where it has an established chain.
New look heir dies - Tom Singh
vogue.co.uk - 09 October 2007, 07:45AM
THE nephew of New Look founder Tom Singh, an heir to the multi-million pound fashion label, has been killed in a car crash. Andrew Singh died when his Mercedes collided with a taxi on London's Kings Road. Friends paid tribute to the 24-year-old city trader yesterday as his family, who migrated to the UK from India in 1950, mourned in private. "He would do anything for anybody," a friend told The Daily Telegraph. "He would stop and chat to homeless people, give them money. He was just totally selfless. He would deal in stocks and shares, but he was heir to New Look as his uncle was Tom Singh so he never had to worry about money." The taxi driver and his passenger who were involved in the accident were taken hospital with undisclosed injuries. (October 9 2007, AM)
Tom Singh in talks about buying New Look
By Kate Rankine, Deputy City Editor - telegraph.co.uk
Last Updated: 11:59PM BST 04 Aug 2003
Tom Singh, the founder and biggest shareholder in New Look, yesterday said he is holding talks with venture capitalists and banks about possibly making an offer for the high street fashion chain.
Mr Singh, who speaks for 28pc of the company, was forced to make his statement following the sharp rise in New Look's shares on Friday. The shares had jumped 27 to a record high of 315p on speculation of an imminent bid.
Last month Mr Singh said he had appointed investment bank Deutsche Bank to help him review options for his family's stake. Analysts speculated that the move could lead to a sale of the fashion chain. Yesterday its shares slipped 4.5 to 310.5p after Mr Singh's statement stressed that "discussions with possible financiers remain at an early stage."
Traders also criticised Mr Singh's statement for being confusingly worded. It said that Mr Singh has "entered into preliminary discussions with potential providers of finance which may or may not lead to an approach being made to New Look in relation to a potential offer." No approach has yet been made to the New Look board.
One trader said: "We all thought that Tom Singh wanted to sell New Look, and now it looks as if he's trying to buy the company." However, some analysts believe that Mr Singh still wants to sell down his shareholding, but in order to achieve this, he will help venture capitalists to buy the company and then reduce his stake.
Speculation continues to surround whether the management of New Look, led by chief executive Stephen Sunnucks, will also consider a buyout of the company. It is thought that no decision has been made yet, and Mr Sunnucks is currently on holiday with his family.
At yesterday's share price of 310.5p the company is valued at £621m, but there is little property to support a buyout and trading at the fashion chain can be highly volatile. Last month New Look said that its underlying sales for the seven weeks to July 12 were up 0.1pc, compared with a 6.6pc decline in first eight weeks of the new year.
Profile of Tom Singh - Charter Member - TIE
Tom Singh is a successful entrepreneur in the retailing sector having merged his business and that of his parents to New Look Retailers in the early 1980s. The company went public in 1998 after which Tom changed his role to become a non-executive Director. In 2004, the company reverted to its status as a privately held one and Tom rejoined as Managing Director, Commercial. He has degrees in Geography and International Politics from the University of Aberystwyth in Wales.
New Look’s Tom Singh honoured with an OBE
From the archive, first published Saturday 30th Dec 2006.
NEW Look founder Tom Singh is among several Dorset figures to feature in the New Year Honours List today.
He was made an Officer of the Order of the British Empire for services to the fashion industry.
Mr Singh started his empire in 1969 with a £5,000 loan from his parents who emigrated to the UK in the late 1940s from the Punjab when he was a baby.
He began New Look, which specialises in providing the latest fashions for women at affordable prices, after working on
market stalls before he went to university.
By 1996 New Look was such a runaway success that Mr Singh reaped £170 million when he sold a 75 per cent stake in his company to the City.
Singh later took New Look private in a deal that valued the company at £700 million.
RAF officer Ross Gilbert celebrated being made a Member of the Order of the British Empire with his family on Portland.
Sqdn Ldr Gilbert, 49, a former pupil at Weymouth Grammar School, was honoured for his services to the Air Training Corps.
He said: "It hasn't sunk in yet. In the cadets we train young people to become good citizens as well as military personnel.
"I've been very lucky to be inspired by so many of them and happy to accept the honour on their behalf."
Sqdn Ldr Gilbert joined the local air cadet force after leaving school at 16 and combined his duties with full-time work at the former underwater weapons establishment on Portland.
He joined the RAF when he was 26 but continued to train young adults during tours of duty in Northern Ireland, Germany and in the UK. Now stationed at RAF High Wycombe he is the only serving RAF officer working with the Air Training Corps.
He toasted the announcement with his wife Sally, also from Portland, and sons Stuart, 20 and James, 18.
Another MBE goes to Richard Patterson, from Dorchester, the former chairman of the Dorset ME Support Group, who receives his award for charitable services to those with chronic fatigue syndrome and myalgic encephalomyelitis.
He said: "It's been impossible to achieve this on my own and I want to thank all the people who have worked with me to raise the profile of this illness.
"Unfortunately a lot of people still don't recognise ME for the serious condition it is.
"To get this award will give confidence to all those people with the illness by showing them it is really being taken seriously."
Respected former county cricketer Roger Knight, who now lives in Corscombe near Beaminster, is also made an OBE.
He was secretary and chief executive of the MCC from 2000-2006. Mr Knight was awarded the honour for his services to sport.
Dr Carol Gibbens of Dorchester has been honoured with an MBE for services to the community.
Mrs Anne Faulconer of Sturminster Newton, is also made an MBE for services to The Children's Society.
Lieutenant Colonel Adrian Clewlow, of the Royal Corps of Signals has been made a Member of the Order of the British Empire for his work as officer commanding 246 Gurkha Signal Squadron and his efforts to raise money for charity. He is now chief instructor at the Royal School of Signals at Blandford.
Other county figures recognised include Bournemouth's the Rev Canon James Richardson who receives an OBE for services to the Church of England and Mrs Myrna Chave from Poole for her services to Guide Dogs for the Blind and the community of Poole for which she also receives an OBE.
Tom Singh poised to take New Look private again
20 February, 2004 | By Manfreda Cavazza - retail-week.com
Fashion retailer New Look looks likely to become the latest retail privatisation, after independent directors recommended a 348p per share offer from founder Tom Singh.
Backed by venture capitalists Apax Partners and Permira, the offer from Singh's Trinitybrook vehicle will be implemented via a court-sanctioned scheme of arrangement. The offer, launched on February 13, values the group at£699.1 million.
New Look operations director Carl McPhail said the retailer will stick to its current strategy. 'We remain committed to our heartland stores.'
Former managing director Phil Wrigley replaces Stephen Sunnucks as chief executive officer. Sunnucks, who has been at New Look since 2000, is understood to be in the running for the head of clothing job at Marks & Spencer.
He reportedly did not want to work for a private company and will leave if the bid goes through, receiving£6.9 million through cashing in shares.
Singh will become managing director, commercial, while New Look's other key executives - finance director Alastair Miller and McPhail - are backing Trinitybrook. They will transfer£3.8 million of their present investment in New Look into Trinitybrook.
Seymour Pierce analyst Rhys Williams said he does not expect much change in New Look's strategy, because the existing management supported the offer. Singh's initial indicative offer of 330p a share was rejected by New Look's independent directors in September. Singh and his family will hold a 23 per cent stake in Trinitybrook. He originally floated New Look in 1998.
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