U.S. News

M&S Designer Davies Set to Stand Down: Report


The man behind Marks & Spencer's Per Una womenswear range, George Davies, is set to stand down from the clothes-to-food retailer later this year, London's Sunday Telegraph reported.

Davies, who said in 2005 he was leaving the group, before changing his mind three weeks later, will not renew his contract when it expires in late Autumn, the paper said.

M&S bought Per Una, one of the group's key brands and founded by Davies, in 2004 for 125 million pounds ($251 million) as part of Chief Executive Stuart Rose's plans to fend off a bid from billionaire Phillip Green. Marks & Spencer, which is due to report first quarter trading figures on Tuesday, declined to comment.