Tesco’s clothing boss Terry Green has registered a fashion website for the company which he mentored as part of a student project.
According to the Mail on Sunday, Green has registered website updatemywardrobe.com. The site was registered with Global Domain Privacy, and the project won the Retail Futures Award at this year’s World Retail Congress.
Green dismissed speculation he planned to leave Tesco to build an internet clothing business and that he had met with private equity firms about raising cash. He said there were no immediate plans to develop the new website as a commercial business, but he had not ruled it out.
Rumours that Green will leave Tesco intensified after the grocer poached Sainsbury’s head of non-food Richard Jones to lead its non-food push. Jones started at Tesco earlier this year and is responsible for all non-food except clothing.
Tesco also plans to relaunch its clothing online offer in autumn to take on the likes of Asos.