A round up of the best fashion business stories from the weekend’s newspapers…
Karen Millen and Aurora
Fashion entrepreneur Karen Millen would not rule out buying back the chain she founded should Kaupthing-owned Aurora be split up, according to the Mail on Sunday. Aurora has denied there are any plans to split up the business, which also includes Coast and Oasis, following speculation that Debenhams was interested in acquiring some of the businesses.
Marks & Spencer
Marks & Spencer risks further tensions with major shareholders if it appoints an internal candidate to succeed Sir Stuart Rose as chief executive, according to the Financial Times. One major shareholder told the paper he would prefer an external candidate with significant retail experience. The comments come following the appointment of food director John Dixon to the retailer’s board and comments from Rose that the board would prefer an internal candidate.
Sir Stuart Rose and Sir Philip Green
Public statements from both Marks & Spencer executive chairman Sir Stuart Rose and Arcadia boss Sir Philip Green have dampened growing optimism about economic recovery, according to the Mail on Sunday. In a speech on Thursday, Rose said: “There are absolutely no green shoots. I have not seen them and we all need to soldier on.” Green, meanwhile, said: “The market place remains extremely challenging. It’s far too early to call a recovery.”
Argos has complained to the Competition Commission that distribution agreements between suppliers and chains such as JJB Sports and Sports Direct are effectively excluding it the market for certain sports equipment and fashion brands, the Daily Mail reports.