The best of the fashion business-related headlines from the weekend newspapers…
- An unnamed retailer, with sales of more than £10bn, is so sure that VAT will increase to 20% that it is raising its prices in anticipation, the Sunday Telegraph reports. The retailer, which asked not to be named, is telling its overseas suppliers to start adjusting prices on products due to reach the shops in February.
- New Marks & Spencer chief executive Marc Bolland is understood to be looking to shorten the decision process at the retail chain, which sources say could lead to job cuts, reports the Mail on Sunday. He is expected to lay down his vision for M&S at the chain’s half-year results in November.
- Sir Victor Blank, the ex-Lloyds chairman, has emerged as a candidate to be chairman of Marks & Spencer when Sir Stuart Rose steps down, reports The Independent on Sunday. Blank was part of the original team which bought-out Woolworths. M&S’s headhunter, Jan Hall of JHA, is drawing up a list of potential chairmen for the board to consider over the next few weeks.
- Andy Bond is to research new markets for Walmart, as part of his role as chairman of Asda, reports the FT Weekend. Bond is to advise parent company Walmart on conquering Russia and other new markets when he steps up to the role of chairman.
- Marks & Spencer has dressed the England football team for its World Cup tour. The retailer has also created a replica suit for sale in store at £199, reports The Times.