Lord Sugar’s sweet return from the Apprentice star
Lord Sugar receives a multimillion-pound payout after selling his stake in a skincare company run by a former contestant at The Apprentice
Sweet deal: Susie Ma with Lord Sugar
Lord Sugar has received a multimillion-pound payout after selling his stake in a skincare company run by a former The Apprentice contestant.
The business tycoon and TV personality put £200,000 into Tropic Skincare – founded by entrepreneur Susie Ma – in 2011 when he took a 50 per cent stake.
The company sells freshly made skincare and beauty products and is considered one of BBC reality show Sugar’s most successful investments.
The acquisition of Tropic means Ma is fully reclaiming the brand she founded in 2004 at the age of 15.
Sugar said the business has been “downright remarkable” since investing, having posted sales of more than £90m and pre-tax profit of £10.5m in 2021.
The value of the sale has not been disclosed, but Sugar will make a profit of several million pounds.
Sugar said, “Susie is a shining example of what it means to be a business owner today.”
https://www.dailymail.co.uk/money/markets/article-11934165/Lord-Sugars-sweet-return-Apprentice-star.html?ns_mchannel=rss&ns_campaign=1490&ito=1490 Lord Sugar’s sweet return from the Apprentice star