Former Marks & Spencer chairman Sir Stuart Rose has bought a stake in online retail group The Hut.

Rose has has snapped up an undisclosed holding in the fast-growing multicommerce business, which runs sites including and and

Rose’s investment has prompted speculation that he may take a non-executive role at The Hut, the Mail on Sunday reported

Rose, recipient of the Oracle Retail Week Outstanding Contribution to Retail award this month, has also been appointed non-executive chairman of Mobile Money Network, a joint venture between Carphone Warehouse founder Charles Dunstone, mobile payments firm Monitise and Best Buy Europe. The enterprise was launched to tap into and drive the trend to mobile shopping.