Daniella Helayel, founder and designer of Issa, has everything to smile about. Since Kate Middleton started being photographed in the brand's dresses, international interest in the company has soared and now Camilla Al Fayed wants to cash on in on the brand's success.
The daughter of former Harrods owner, Mohammed Al Fayed, has bought a majority stake in the label leaving Helayel to focus on the design aspect of the business. When the news was announced the designer explained that she had "looked at a lot of investors, and Camilla came with the best fit. She has the infrastructure behind her, she's well connected, and she will open a lot of doors."
Despite selling Harrods last year, Mohammed Al Fayed is not giving up on working in the retail industry. Yesterday it was confirmed that he has bought online discount retailer, Cocosa, from Bauer media.
The move is definitely a good one - and we're not just saying it because we're working with the retailer, we promise. Since it's launch back in 2008, the invitation-only site has secured a strong following of 500,000 members who all rely on the retailer for their fashion fixes at affordable prices. Although the move came as surprise, many are speculating that this is Al Fayed's first step in his plans to launch an online shopping empire.
Egyptian businessman Mohammed Al Fayed has finally sold his iconic British department department store Harrods, reportedly for a whopping $2.2 billion. After owning the store for 25 years, Al Fayed will pass Harrods onto its new owners, Qatar Holding, who already own stakes in London's Canary Wharf as well as Sainsbury grocery stores and Barclays bank.
Run by the Qatar royal family, Qatar Holding is a private equity firm that was recently rumoured to buy out French fashion house Lanvin. It has come as no surprise to many, however, that Al Fayed has decided to sell Harrods, after department stores continue to see sales fall, despite the money that Harrods generates through being a tourism attraction. In a statement to the press, Al Fayed explained that he had signed the deal after wanting to "retire and spend more time with his children and grand-children".
If you've been wondering where Camilla Al Fayed has been over the last couple of months, then wonder no more. She's not been away in hiding, her spokesperson confirmed today that the daughter of Harrods owner, Mohammed, is actually pregnant with her first child.
A spokesperson for Camilla told the Daily Mail: ‘She’s delighted. She’s looking forward to having the baby. She hasn’t been in hiding but has been doing lots of charity work.’
When asked questions regarding the paternity of the child, her spokesperson refused to confirm saying, ''He is a long-standing partner of three years.’
I'm not sure what Harold Tillman is doing but he's certainly doing something right. This morning it was confirmed that Mohammed Al Fayed's designer daughter Jasmine will bring her spring/summer Jasmine Di Milo collection to London in September to celebrate London Fashion Week's 25th anniversary.
With the positive response, many are speculating whether big names like Stella McCartney, John Galiano or Alexander McQueen will follow the trend and come back to London. However, when interviewed in the Spring 2009 issue of Numero, McQueen did not mince his words when he said that the British Fashion Council "doesn't know what the f*ck it's doing". Hopefully he's changed his mind.