Lord Sugar sells stake in Tropic Skincare to founder

By

Nigel TAYLOR

Published
Apr 3, 2023

​UK entrepreneur Lord Sugar has sold his 50% stake in skincare brand Tropic Skincare, having backed founder Susie Ma, a competitor in his BBC One television business talent show The Apprentice, in 2011. 

Sugar, who supported the fledging business to the tune of £200,000, has not divulged the terms of the sale, but it’s thought to be his most successful investment from the programme, reported The Times.

Ma was said to be financing the buyout from Sugar’s Amshold holding company via Tropic’s future trading profits, “with an agreed payback plan over the next few years”.

She said she plans to launch a new website and branding and to expand Tropic’s product range, while managing the impact of higher operating costs.

Tropic Skincare had sales of £90.6 million in 2021 and pre-tax profits of £10.5 million. 

Ma, who started out selling body scrubs at Greenwich Market in southeast London, said she would “always be so grateful for the investment. [but] reclaiming full ownership has always been my ambition.”