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Tuesday 11th May
The press is dominated by the demise of Luc Vandevelde today and as predicted yesterday by LFF there was little hope of the man, with many fingers in too many pies, staying at the beleagued M&S. Full story below.
Who's next for the hot seat at M&S?
City speculation went wild yesterday after the resignation of Luc Vandevelde - was he pushed or did he jump? Either way it doesn't really matter! During January 2000 until May 10th Luc has had some ups and downs at M&S but noticeably his greatest achievements was the George Davis Per Una range being stocked in M&S branches throughout the UK, closed various internationally operations with a loss of 4,000 jobs and had the St Michael brand down graded. Perhaps he has been the fall guy in the current low performance of M&S but the city has to be placated and that's just what has happened.
As for M&S the show must go on. Roger Holmes (Chief Executive) and Vittorio Raddice, (Head of Clothing) are hosting a two-day fashion show in central London for the launch of the new Autumn collection.
By the way, Luc will receive a £450,000 pay off…..
Co-Op expands
Following recent reports of profit increases in excess of 70% year on year the Co-Op are on a roll! They have acquired 64 convenience stores in the south-west from Conveco for a cost of over £25m. Opportunities are available for the right entrepreneurial designer and manufacturer here!
Belinda Earle off to Jeager
The Debenhams guru, much underlined in the big Debenhams sell off, is now set to use her Midas touch with Jaeger. According to insiders the "deal" was just too good to resist. Good luck to you Belinda, let's hope you turn the fortunes around what has always been a well established, quality and classic label and this time you will also receive your just rewards.
Young Apprentice Scheme
The modern day apprenticeship scheme was re launched yesterday and expanded to include 14 and 15 year olds who will be able to split their time between school and the workshop placement. Initially it is a trial whereby up to a 1,000 teenagers will be given the opportunity. Let's hope this scheme also incorporates machinists, pattern cutters and graders who are in themselves a dying bred and very much the unsung heroes of the fashion industry.
Sex Shop and Coco branding
The sex shop Coco de Mer has lost it's fight to use the name on perfumes, whips and harnesses after the luxury goods brand Channel complained that their existing customers became confused between the two companies! Unbelievable as it seems. Coco de Mer is so named after the palm nuts from the Seychelles that resembles the female bottom (not mine I hasten to add but there you go!). The shop was set up by Anita Roddick's daughter Samantha in 2001.
The Telegraph launches it's Business Club
Aiming to provide general business advice and support their aim is to "act as an independent source of information and advice for businesses that have moved beyond the start-up stage". To review the information go on line at www.telegraphbuisinessclub.co.uk where there is a simple registration form. The service is provided free of charge.
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