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Ocado and Morrisons deal nets £1.5 million for Sir Stuart Rose Monday, 20th May 2013
The former chief executive of Marks & Spencer and now Ocado chairman, Sir Stuart Rose, has reportedly seen his personal wealth rise by GBP 1.5 million following the delivery group’s deal with Morrisons, the Mail on Sunday reports. The retail veteran owns 1.2 million shares in Ocado, 450,000 of which were acquired as a result of his appointment as chairman on March 11.
Qatar Holding linked to Versace deal Monday, 20th May 2013
Sources say Qatar Holding is “carefully looking at” Versace as the sovereign wealth fund is linked once more to a fashion industry acquisition. According to financial sources cited by Italian paper Il Sole 24 Ore on Saturday, the Qatar Holding and an Italian state-controlled investment fund are investing in the Italian fashion house.
Prada plots 80 new stores for 2013 Saturday, 18th May 2013
Prada Group is set to continue its steady rate of global expansion as it looks to open up to 80 new stores in 2013, focusing on Asia, the Gulf countries and North America. The Italian fashion house’s Miu Miu brand will also launch a bevy of new stores in China, despite the fluctuating market conditions in the region.
Nordstrom receives lower than expected sales and profit 1Q Friday, 17th May 2013
Nordstrom Inc reported that its sales and profit dropped more than expected in the first quarter due to weak business in early winter, while shares reduced to 3.9 per cent after trading.
Dolce & Gabbana announce London store opening Friday, 17th May 2013
Dolce & Gabbana are set to open its fourth London store on June 15th, coinciding with an event they are joint hosting with GQ magazine. The store, located at 53-55 New Bond Street, will be part of the inaugural London Collections Men’s calendar, in which its Summer 2014 Tailoring Collection for men is expected to be showcased.
Amazon to be quizzed about low corporate income tax Friday, 17th May 2013
Internet retailer, Amazon.com Inc., remains in hot water over its low corporate income tax after it emerged that the British parliament are calling for them to clarify their UK business activities. Reuters, the online business and financial news website, claim they have uncovered evidence to suggest that Amazon have been running a multinational business with independent subsidiaries in different countries, as oppose to a single European based business in Luxembourg.
Rooney Mara become new face of Calvin Klein fragrance Friday, 17th May 2013
Hollywood actress Rooney Mara has been unveiled as the new face of Calvin Klein’s newest fragrance, Downturn, and the company estimate that the fragrance could accumulate USD 120 million in retail sales globally. The company have said that they hope the fragrance will rival its flagship women’s scent, Euphoria, which has proved particularly popular with customers.