French Connection's Stephen Marks sold Nicole Farhi, the eponymous label designed by his ex-wife. The pair have been in business together for over 25 years and Nicole inspired the name of the high street store that they founded together - her Gallic roots made her the French connection - so the sale marks the end of an era. The label has apparently been sold to OpenGate Capital, a private equity company, and we're keeping our fingers crossed that this means that its future is assured - British fashion wouldn't be the same without the understated cool of Nicole Farhi.
Also sold off yesterday was American label Tommy Hilfiger, which was snapped up by Philip Van Heusen, the company which also owns Calvin Klein. Tommy Hilfiger himself is expected to remain at the helm.
And rumours are circulating that luxe online store Net-A-Porter is about to be bought by Swiss luxury goods group Richemont. The company already owns 30% of the store but is keen to snap up the remainder from founder Natalie Massenet and fellow shareholders.
Finally Liberty's iconic building was sold yesterday, but don't panic, the department store isn't going anywhere. Liberty is renting it back from its new owners in a bid to cut costs.More