A round up of the best fashion business stories from the weekend’s newspapers
Debenhams directors have received bumper pay-outs despite the department store cutting its dividend payment to shareholders last year. Debenhams chief executive Rob Templeman was granted a bonus of £428,073, taking his package increase to £1.24m. Deputy chief executive Michael Sharp received a £331,290 bonus, taking his package to £968,644.
George Davies, the brains behind Asda’s George fashion label and Next founder, is considering taking his GIVe fashion chain overseas, according to the FinancialTimes. Davies, who launched GIVe earlier this year, is eyeing India and the Middle East for overseas debuts.
Asda will use the power of its US parent Walmart to cut the price of its non-food products, according to the Sunday Times. The grocer will increase the number of products it sources alongside Walmart and will meet next month with Walmart to finalise common sourcing arrangements.
Internet shopping site www.vouchercodes.co.uk said 4.2 million shoppers are on course to take advantage of online special offers in December compared to two million last December, according to the Sunday Telegraph.
Landlord Westfield is facing the threat of a second revolt by retailers over service charges at its Westfield London shopping centre which opened last year. The Independent on Sunday reported that a number of high profile retailers have told Westfield that service charges need to be reduced again, following a summer cut.
The newspaper also reported that rents have soared to such an extent in select parts of London that landlords are demanding nearly £1,000 per square foot for sections of top-tier shops on the exclusive Old Bond Street. It said the high rents are, in part, being driven up by foreign retailers looking to bring their brands to London.