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House of Fraser in talks with AllSaints over future

House of Fraser is in discussions with young fashion retailer AllSaints about the future of their relationship.

It is understood that AllSaints is concerned about the level of discounting at the department store and is assessing whether to continue with the group.

It is understood that AllSaints, which has revealed consistently strong trading throughout the downturn, is keen to avoid taking a margin hit outside of the traditional discounting period. In July, AllSaints said like-for-likes had risen 31% for the year to date and that annual turnover was £90m.

At the same time, AllSaints secured £30m in funding from Lloyds TSB Corporate Markets, to fund UK and international
expansion.

Earlier this month, Drapers revealed that House of Fraser would hold back on Christmas discounting and would not hold 20%-off discounting mega days, outside of its planned four for the year.

House of Fraser chairman Don McCarthy said: “We are always negotiating with brands about their performance. We are having talks with AllSaints. AllSaints performs well in some stores and in others densities are not so good.”

Meanwhile, McCarthy said that House of Fraser’s relationship with menswear retailer Crombie was “uncertain”. McCarthy said: “We don’t necessary see it as a strategic part of the group going forwards. ” 

The uncertainty follows the departure of former House of Fraser director of womenswear, accessories and beauty June Lawlor and commercial director Colin Porter, who joined Crombie as joint managing directors earlier this month.

AllSaints and Crombie were unavailable for comment.

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