It looks like Frasers Group’s on again-off again pursuit of struggling Norwegian sports retailer XXL ASA is on again. 

That news comes just a month after the UK retail giant pulled out of its intended voluntary offer for the shares of the business that it didn’t already own at NOK10 (around 71p) per share.

It had made its interest in buying the business public back in December, but XXL didn’t seem too keen on the idea of being taken over. It said its board decided Frasers’ offer to buy the rest of its shares was unlikely to be successful and it opened for a rights issue that Frasers had actually opposed. 

The February announcement seemed to draw a line under any deal, but on Tuesday, Frasers said it would make a mandatory offer for the shares of XXL ASA that it doesn’t already own, after increasing its stake through the rights issue.

It now owns 32.9% of all shares in the company and approximately 40.8% of the voting A-shares after all shares related to the issue have been issued. And that means it’s above the threshold at which it has to make a bid for the remaining shares under Norwegian trading rules.

There weren’t many more details available but it’s clear that Frasers being rebuffed by Mulberry and failing to get its representatives onto the Boohoo Group (now Debenhams Group) board haven’t dimmed its appetite for acquisitions where its target is less than enthusiastic.

You’ll no doubt be aware of the annual Sunday Times Rich List, but such is its powerful and ever-growing success, there’s now a specific Beauty Rich List too.

The newspaper has published 30 entries of both familiar and unfamiliar names that have scaled the heights to built wealth by taking on (or joining) the established high order. Topping the list? Charlotte Tilbury, with her now-Puig-owned brand worth over £1 billion and her estimated personal wealth standing at £350 million.

The list comprises 19 women and 14 men with 14 of them aged in their twenties or thirties. Together, they’ve amassed personal fortunes adding up to nearly £2.2 billion.

In second placed are Mark and Mo Constantine, having accumulated £249 million via their high street mass retail brand Lush.

Third place goes to Sanjay Vadera of The Fragrance Shop fame, with a personal wealth of £245 million, while fourth spot goes to international hair brand and former hairdresser celebrity John Frieda, now worth an estimated £150 million. Fifth-placed Vishal Karia, via his Afinity Fragrances business, is worth £114 million.

At joint sixth, Elliot Isaacs, who launched skincare brand Medik8 in 2009, is worth £100m, and is joined by Sacha Mascolo-Tarbuck and family, of Toni & Guy hairdressing fame, and Paige Williams, with her P Louise also worth £100m.

Susie Ma, the Tropic Skincare brand founder, at £73 million, and GelBottle brand founder Daisy Kalnina, at £70 million, round out the top 10.

Elsewhere rounding out the top 30 are: Trinny Woodall, (Trinny London), £54 million at 12th; Jenna Meek (Shrine and Refy), £53 million; Susan Harmsworth (ESPA), £50 million; Martin and Gavin Rae (Cloud Nine), £50 million; Jess Hunt (Refy) £46 million; Mike Harris and family (The Belgravia Centre), £42 million; Maxine and Darcy Laceby (Absolute Collagen), £34 million; Elliot Barton/Charlotte Tiplady, (Tatti Lashes), £32 million each; Georgie Cleeve and family (Oskia), £28 million; Oliver Mennell/ Nicola Elliott (Neom), £25 million each; Mark Curry (The Inkey List), £17 million; Jamie Genevieve (Vieve), £15 million; Jo Malone, (Jo Malone), £15 million; Freddy Ward (Wild), £15 million; Colette Laxton (The Inkey List), £12 million; Ama Amo-Agyei (Plantmade), £10 million; and Charlie Bowes-Lyon (Wild), also £10 million.

Supermarket giant Sainsbury’s has appointed Ben Smith, Matalan‘s former chief trading officer, as its Clothing managing director to lead the Tu brand.

Reporting to chief commercial officer, Rhian Bartlett, Smith brings substantial clothing retail experience to the wide-ranging Tu brand.

He joined Matalan in March 2023 as interim buying and merchandising director before taking up the chief trading officer position just two months later. 

Before stepping down in January, he led the company’s transformation, overseeing Commercial Strategies for over £1 billion turnover in Clothing and Home. He has also previously held trading directorship roles at mass fashion brands Pep&Co and Primark.

Smith’s expected to replace to replace Christine Kasoulis, who has been leading the supermarket’s clothing, home, and furniture ops for nearly three years, according to reports.

In a January statement for the Christmas period, Sainsbury’s reported positive trading. In Q3 (16 weeks to 4 January) total sales increased 3.7% and over Christmas they rose 3.8%. However, branded  general merchandise and TU clothing saw a 0.1% sales dip, but in the Christmas period this changed to a 3.4% increase.

Clothing sales grew by 2.2%, “outperforming the market and all supermarket competitors, reflecting significant improvements in range and availability”.