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Weekend newspaper round-up: June 27-28

The best of the fashion business-related headlines from the weekend newspapers…

Valentino Group

Permira, owner of the Valentino Group which includes Hugo Boss and Malboro Classics, is renegotiating the designer fashion group’s debt with banks, according to The Sunday Times.

Permira, whose investments also include New Look, has begun talks with a consortium of banks including Citigroup and Italy’s Unicredit.

Harrods

The youngest son of Harrods owner Mohamed Al Fayed, Omar Fayed, has left the business sparking speculation over the future successor for the role to head the luxury department store, according to The Sunday Telegraph.

Omar Fayed was appointed to board and in 10 subsidiary companies in 2006 but has now left to study for an MBA. Although he had no specific executive position, Harrods had said that he would become increasingly involved in the business.

A spokesman said there were no plans to replace him on the board but it is not clear whether he will be returning.

Sainsbury’s

Former Argos and Homebase executive David Tyler has joined the list of candidates to be the next chairman of Sainsbury’s according to The Sunday Telegraph.

Tyler, who was finance director of home shopping group GUS between 1997 and 2006, is on a final shortlist of three candidates to replace Sir Philip Hampton.

Burberry chairman David Peace and deputy chairman of Thomson Reuters are also understood to be in the running.

 

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