Mohamed Al Fayed, the former boss of Harrods is planning an internet empire by gobbling up small but growing net firms. Al Fayed sold to the Qatari royal family, Harrods London’s most famous department store in 2010 for just over £1.5 bn and is thought to have approached Bauer Media to buy cocoas.com the discount fashion website.
It is thought that negotiations advanced and Al Fayed lieutenant Jeffrey Byrne has registers a company titled Cocosa Lifestyle. Al Fayed, 78, is interested in the fast growing side of the internet and wants to purchase other targets this year.
He has experienced a form of epiphany since he let Harrods go and is hooked on internet retailing. Bauer declined to comment about the possible deal but did say opportunities are presented all the time. Also play.com owners Simon Perree and Richard Goulding merged their business the online store Superfit with one owned by Phil Balderson known as Better Health.
The new group will be run by Balderson with combined sales of over £5 million this year and are estimated to double next year. They feel there is potential for men from 30 to 50 to want to remain fit and when times are the toughest people buy the things that make them the most content and happy. Balderson and his partners are looking for further acquisitions.
No related posts.
