Former Harrods owner Mohamed al-Fayed has made a return to retail by acquiring online retailer Cocosa.

The terms of the deal were not disclosed.

Magazine and radio group Bauer Media sold the private Sales site business to Cocosa Lifestyle, a company set up by the Al Fayed Family Trusts.

The site, which launched in 2008, has more than 500,000 members and sells luxury fashion and accessories brands including Vivienne Westwood and Julien MacDonald, at discounted prices.

Al-Fayed, who sold Harrods to Qatar Holdings for £1.5bn last year, is thought to be using Cocosa as a springboard to launch a new online retail empire.