BBC Apprentice star Lord Alan Sugar 'earns millions' after selling …

Lord Alan Sugar has enjoyed a multi-million pound pay-out after selling his stake in a skincare business run by a former contestant on The Apprentice. The business magnate and TV personality cashed in after a GBP200,000 investment in 2011 in Tropic Skincare, founded by entrepreneur Susie Ma. He also acquired a 50 per cent share in the retailer, which sells freshly made skincare and cosmetics products and is thought to have been one of Lord Sugar’s most successful investments from the BBC One business show.

The buyout of Tropic means Ms Ma will regain full ownership of the brand which she founded in 2004 at the age of 15. Lord Sugar said the fast-growing business has been “nothing short of remarkable” since his investment, having recorded a turnover of more than GBP90 million in 2021 and a pre-tax profit of GBP10.5 million. The value of the sale has not been disclosed but Lord Sugar is set to make a multimillion-pound profit as a result, the PA news agency understands.

READ MORE:BBC The Apprentice viewers amused after spotting blunder during Rochelle’s business planning Ms Ma said it has always been her “ambition” to regain ownership of the company that now sells more than 400 products and has more than 300 staff. She added: “I will always be so grateful for the investment Lord Sugar made, and the potential he saw in Tropic Skincare with me at the helm.”

The 34-year-old, born in Shanghai in China, was a contestant on The Apprentice in 2011, coming third but still managing to secure investment after the series ended. Lord Sugar said: “Susie is a shining example of what it is to be a business owner today. When I first met Susie in 2010, I saw a unique grit and determination and it’s a drive she has maintained over the years.

Following the company’s fantastic trajectory over the last few years, it’s now the right time to part ways and allow Susie the space to take the company to new heights.” Ms Ma, who is also the chief executive of Tropic, said she plans to launch a new website, refresh the branding and roll out new products. Series 17 of The Apprentice ended last month with winner Marnie Swindells receiving a GBP250,000 investment to develop her boxing gym concept.

Love being across everything that’s happening on TV each day?

Sign up to MyLondon’s TV Newsletter HERE.

READ NEXT:

Read More
Related Articles
Read More
Related Articles

Tags:

american-golf listed on couponmatrix.ukfootasylum listed on couponmatrix.ukjump-giants listed on couponmatrix.ukprocook listed on couponmatrix.ukvax listed on couponmatrix.ukwicksteed-park listed on couponmatrix.uk
american-golf listed on couponmatrix.ukSave money while indulging in your favourite pastime and turn to American Golf for all your golfing supplies. American Golf is Europe’s biggest golf retailer with over 130 stores across the UK and Ireland stocking all the equipment and clothing you need for a round or two on the green. Don’t forget to use an American Golf discount code from us on a sweet set of clubs or state-of-the-art GPS tracker, and you’ll up your performance without busting your budget.
footasylum listed on couponmatrix.ukAdd some streetwear to your wardrobe with Footasylum, the foot and clothing brand that defies traditional trends in place of daring urban styles. From cropped training tops to decade-defining footwear including UGG boots and Adidas Original trainers, we at Groupon have ways to save on a myriad of fashion staples thanks to our latest Footasylum discount codes. Sporting styles for men, women and children under its banner, there’s room for every family member to find their fashion sense at Footasylum.
jump-giants listed on couponmatrix.ukReady to get your bounce on at your local Jump Giants trampoline park, one of the largest indoor attractions of its kind in the UK. Be it for scoring slam dunks in bouncy basketball or for testing your reflexes in the Total Wipeout-style obstacles course, get a great deal on a fun time by utilising the latest Jump Giants discount code. With five separate sites spanning all the way from Essex to Newcastle, customers across the country are free to enjoy some airtime at Jump Giants
procook listed on couponmatrix.ukSlicing and sizzling a new recipe can become your favourite pastime with ProCook, the knife and cookware supplier who specialise in sending professional cooking equipment direct to your door. Expand your culinary horizons with a ProCook discount code and you slash double digits off everything from cast iron casserole dishes to stainless steel steamer sets. With baking tools, tableware and an array of kitchen accessories to liven up your dining experience, ProCook can help you rediscover the joys of preparing, cooking and serving delicious dishes.
vax listed on couponmatrix.ukDeep clean your home like never before with the Vax range of vacuum cleaners, carpet cleaners, air treatment and detergents. Vax are a company of cleaning technology specialists providing cutting-edge devices to take your cleaning to the next level. Founded in 1977, Vax are now industry leaders in vacuum technology, and promise exceptional results and customer service. With the Vax voucher code you can enjoy the product range for less. Get rid of tough stains and hard to reach dust like never before with Vax.
wicksteed-park listed on couponmatrix.ukGather the troops for a blissful day out at Wicksteed Park and enjoy thrilling rides, one of the longest zip lines in the UK and 147 acres of spectacular parkland. What more could you possibly want? Check our collection of Wicksteed Park offers to cut the cost of a fun-filled family day out. Whether a picnic in the park or exploring the adventure play areas appeals, Wicksteed Park will tick everyone’s boxes!