Chapter 223 Primark

"We found Mrs. Emma's name in the list of investors in London Star, but she did not appear in the list of reporters..."

After returning to London from his holiday in Barron, he got some information about Lady Emma from Nigel Inkster.

Lady Emma's full name is Emma Evans. She is 43 years old. She married Baron Eden Evans twenty years ago, but Baron Evans died of illness six years after their marriage. , since the two had no children, Emma Evans inherited each other's property and did not remarry since then.

As for the relationship between Lady Emma and the Devonshire family, or the previous old Duke...

Her late husband, Baron Eden Evans, had a good relationship with Barron's father, so the Evans family had many contacts with the Cavendish family before. However, since the death of Baron Evans, Lady Emma It rarely appears in the Cavendish family.

"Can she be found now? I want to see this Lady Emma and talk to her."

"Mrs. Emma has always lived in seclusion, but you can definitely find her if you look for her. She has several residences in England."

After hearing this answer, Barron nodded and said instead:

"As for Aaliyah, can we now confirm the authenticity of the information she gave us?"

Now that Nigel Inkster has returned to London, it means that he has basically confirmed the authenticity of the information given by the previous woman named Alia Benti Hussain.

According to Nigel, according to the channels they have at present, most of the details that can be proved by Alia's words exist, but there is only a part of the content, because it was a long time ago, and the Middle East at that time was also different. It's relatively turbulent, so it's difficult to confirm in a short time.

"That's enough..."

Barron said:

"I will go to Billu Castle again in two days to meet this woman for a while."

…

"Ms. Weston, we can give up the acquisition of Selfridges department store and sell you the shares we hold..."

Barron looked at the blond woman in front of him and said:

"But I have a proposal, which is to discount our shares in Selfridges as part of the purchase of your Primark."

"Primark? Your Highness, if I heard correctly, do you want to buy Primark?"

Alanna Weston, who originally had a smile on her face, immediately couldn't sit still after hearing that Barron's hoped to acquire Primark.

Primark is a cheap clothing brand and a subsidiary of Associated British Foods Group (ABF).

The Weston family controls the British United Food Company.

Primark currently operates mainly in the British and Irish markets. After acquiring some stores including Woolworth, BHS, Co-Op, and C\u0026A, Primark has a total of approximately 110 stores.

"Primark is an important brand for us. Your Highness the Duke, do you mean that selling Primark is a prerequisite for you to give up the acquisition of Selfridges department store?"

"No, you misunderstood, Ms. Weston. Due to the impact of brands such as ZARA and H\u0026M, Primark's current development is not ideal, and considering the acquisition of Selfridges department store, plus your subsequent acquisition plan, it will take up too much Funds, so I hope to help you solve some of the pressure..."

Barron smiled and said to Alana:

"You must know that most of the brands you currently operate, including Loblaws, Brown Thomas, and Fortnum \u0026 Mason, are high-end retail companies targeting high-quality customers. Only Primark is a low-cost clothing chain targeting civilians. In comparison, Primark, which has been subject to more controversy, is an obstacle to the overall positioning of your family. Although the Argos I own also sells some clothing, in comparison, Primark is more in tune with Argos..."

Alana also admitted that there is some truth to what Barron said, but the key is that their family has been running Primark for 34 years - starting from the first Primark store in 1969, which was still named Penneys.

Moreover, it is not her decision to sell Primark.

"I need to report this matter, Your Highness the Duke. Although I also think that cheap clothing is not suitable for our brand building, I am afraid that selling Primark, a brand that currently seems to be developing well, will be difficult to be approved."

"I can understand this, Ms. Weston. Even so, I will not break my promise, but I need to be reminded that in addition to the impact from overseas including ZARA and H\u0026M, as well as the competition from other cheap clothing brands that have emerged in China, , if you cannot acquire Primark, then I am afraid that what you will have to face next is competition from cheap clothing from other brands under our Argos umbrella..."

According to his previous agreement with Alana, DS Capital will withdraw from the competition for the department store after the Weston family will also bid more than 350 million pounds for the 51% stake in Selfridges held by the Selfridges family.

In return, the Weston family will not only acquire their 5% stake in Selfridges for 35 million pounds, but also the employee pension fund of the United British Food Group, which their family controls with a market value of more than 15 billion pounds. Purchase a 100 million pound Athena fund product with a 5-year fixed annual return of 12.5%.

Speaking of which, the largest occupational pension funds in the UK are concentrated in retail, mining, telecommunications and other industries. This is understandable, after all, these industries have the largest number of employees.

Of course, it also has something to do with the business hours of the company.

Just like the employee pension funds of the retail companies owned by the Weston family, the scale is more than 500 million pounds.

As for Barron's proposed acquisition of Primark, even if the Weston family ultimately rejects it, he is still preparing to enter the market by acquiring other brands.

From Zara to H\u0026M, fast fashion and affordable clothing will lead the trend and develop rapidly from the first decade of the 21st century.

In particular, Zara's rapid development has directly pushed its boss, Spaniard Amancio Ortega, to the position of the world's richest man.

At present, Primark's development is not eye-catching and is only concentrated in the British market. However, Barron knows that after 2006, with the joining of the company's new CEO, Primark began a decade of crazy expansion. In the future, it will Become one of the most profitable clothing brands.

Therefore, taking advantage of the current opportunity, it is also an excellent opportunity to acquire this brand and develop it to directly compete with Zara and H\u0026M.

…

"Tamaran, we meet again."

"Yeah, Barron, what a coincidence, I just came back from Cambridge..."

When Tamaran saw Barron, a sweet smile broke out on her face, but there was a bit of resentment in her words:

"Last month you went to America without even saying hello. My vacation was so boring."

"Well, I have business to deal with, so..."

Today Barron attended a promotional reception held by F1 in London. He did not expect to meet Tamaran here, but considering that her father is the president of F1, it makes sense.

"Hello, Duke Cavendish, it's a pleasure to see you here. Besides, my daughter has often mentioned you before this."

A short old man with silver hair walked up to Barron at this time and said to him cheerfully.

"Dad, what's the matter with you..."

However, his words made Tamaran feel shy for a while.

Barron naturally knew that this old man was the shaper of the F1 movement, the president of the F1 Management Company, and Tamaran's father, Bernie Ecclestone.