The best of the fashion business-related headlines from the weekend newspapers…
The Sunday Times said that Theo Paphitis was in talks to buy back a majority stake in lingerie chain La Senza, which he sold to Lion Capital for £100 million in 2006. The newspaper said any deal would see a radical restructuring of the business with its lenders. La Senza has already been negotiating to move onto monthly rent payments with its landlords. Chief executive Rose Foster also left the business abruptly several weeks ago.
The Sunday Express said that JD Sports Fashion will post pre-tax profits up 32% to £50 million when it reports its full year results on Wednesday. Sales are expected to have risen to £676m against £563m last year.
The Independent on Sunday reported that luxury brands such as Stella McCartney, Alexander McQueen and Vivienne Westwood had been forced to shut up shop in Moscow in Russia because of a slump in consumer spending coupled with the city’s sky high rents. The newspaper said that Russians were opting to spend on better known French and Italian designers as they reined in their spending.