The tycoon fought to win an injunction preventing the Daily Telegraph from publishing the allegations this week – but was today outed in the House of Lords.
He was named undfer parliamentary privilege as the businessman who tried to stop the media reporting claims he bullied and sexually harassed employees.
The 66-year-old says he "categorically" denies the allegations, which also accuse him of "racist behaviour".
Following Lord Peter Hain's announcement today, Twitter has been flooded with shoppers saying they want to boycott all of the billionaire's Arcadia Group stores including Topshop, Miss Selfridge and Dorothy Perkins.
Messages were accompanied by the hashtag #PinkNotGreen, championing "pink" feminism over Sir Philip's surname.
One tweeter posted: "Phillip Green owns one of the biggest stores on the high street and clothes millions of British teens.
"How dare he. How very dare he. #MeToo #PinkNotGreen."
Another wrote: "Fully boycotting @Topshop #PinkNotGreen."
And a third person posted: "Yet another reason to stop shopping in all his stores #pinknotgreen."
Green has released a statement denying the allegations while appearing to admit that some former staff members have received settlements following formal complaints.
He said: "I am not commenting on anything that has happened in court or was said in Parliament today.
"To the extent that it is suggested that I have been guilty of unlawful sexual or racist behaviour, I categorically and wholly deny these allegations.
"Arcadia and I take accusations and grievances from employees very seriously and in the event that one is raised, it is thoroughly investigated.
"Arcadia employs more than 20,000 people and in common with many large businesses sometimes receives formal complaints from employees.
"In some cases these are settled with the agreement of all parties and their legal advisers.
“These settlements are confidential so I cannot comment further on them."
Ex-minister Peter Hain outed the Topshop tycoon in the House of Lords.
He said: "I feel it's my duty under parliamentary privilege to name Philip Green as the individual in question, given that the media have been subject to an injunction preventing publication of the full details of a story which is clearly in the public interest."
Lord Hain, who served in the Cabinet under Tony Blair and Gordon Brown, said he was naming Sir Philip as the "businessman using non-disclosure agreements and substantial payments to conceal the truth about serious and repeated sexual harassment and bullying which is compulsively continuing".
The naming has led to renewed calls for the retail mogul to be stripped of his knighthood.
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