Sir Stuart Rose, the former Marks & Spencer boss, has become an investor in fast-growing high street clothing retailer Blue Inc, it is understood.
Although Rose’s exact stake in the firm is not known, it is thought to be less than the £2m investment from Blue Inc’s other backers, the Reuben brothers.
According to Sunday Times, it is thought Rose was attracted to the firm because of its strong balance sheet. Blue Inc is on track to earn £80m sales and profits of £5.5m this year, totalling a 70% and 82% increase from the previous year.
He was also appointed non-executive chairman of the Mobile Money Network, founded by his friend Charles Dunstone, as revealed by Retal Week.