Lord Sugar receives multi-million pound payout after selling his stake in skincare company run by former contestant on The Apprentice
Sweet deal: Susie Ma with Lord Sugar
Lord Sugar has landed a multi-million pound payout following the sale of his stake in a skincare company run by a former contestant on The Apprentice.
The business magnate 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 cosmetics and is regarded as one of Sugar’s most successful BBC reality show investments.
The acquisition of Tropic means that Ma will regain full ownership of the brand she founded in 2004 at the age of 15.
Sugar said the company has been “nothing short of remarkable” since its investment, with sales of more than £90m in 2021 and pre-tax profits of £10.5m.
The value of the sale has not been disclosed, but Sugar will make a multi-million pound profit.
Sugar said, “Susie is a shining example of what it’s like to be an entrepreneur today.”