Entrepreneur builds Moss Bros stake
Kevin Stanford increases holding in menswear retailer
Fashion entrepreneur Kevin Stanford has increased his holding in menswear retailer Moss Bros.
Moss Bros has announced that Icelandic bank Kaupthing has advised that Stanford, the co-founder of the Karen Millen chain, is the beneficial owner of 6.15m shares bought by the bank, representing f 6.7 per cent of Moss Bros shares.
In addition, Stanford is party to an agreement with broker Cantor Fitzgerald for another 20.7m shares held under contacts for difference.
Stanford has also been building a stake in womens’ fashion and accessories retailer Mulberry through Kaupthing, standing at 14.9 per cent as of last week.
He has business links with Icelandic retail group Baugur, which has been building a UK high street fashion empire alongside its grocery and other interests. This week, Baugur completed its takeover of Iceland owner Big Food Group as well as making a preliminary approach for the Somerfield group.
