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Family-owned clothing retailer expands operations

July 28, 2011

Family-owned American clothing retailer Forever 21 has opened in London as part of its strategy to expand operations throughout Europe.

The clothing giant, 100% owned by the Korean-American Chang family, opened its third store in Europe on 27 July – it had already opened a store in Birmingham and Dublin last year.

The move comes as Forever 21, much known for its cheap but chic fashion in the US, looks to expand globally with plans to open 20 stores throughout Europe.

Second generation takes control at Westfield

May 26, 2011

Frank Lowy, founder of the world’s biggest shopping centre chain Westfield, has stepped down as chief executive of the company and will be succeeded by his two sons.

In a statement made during the group’s annual general meeting on 25 May, Lowy announced that he will become non-executive chairman, while his sons Peter Lowy and Steven Lowy will become joint chief executive officers.

London super-prime property forecast to reach incredible highs

April 6, 2011

Top properties in the best areas of London are likely to reach £10,000 a square foot within the next few years, according to Knight Frank, the high-end UK property agent.

Top properties in the best areas of London are likely to reach £10,000 a square foot within the next few years, according to Knight Frank, the high-end UK property agent.

Speaking at the release of Knight Frank’s The Wealth Report, Liam Bailey, head of research at the property group, said that top properties in London are approaching £10,000 a square foot.

Hong Kong family looks to invest in the UK

February 24, 2011

London-based property group Capital & Counties (CapCo) is in talks with one of Hong Kong’s wealthiest families, the Kwoks, to provide funding for the redevelopment of London’s Earls Court site, according to reports in the Financial Times.

Pears family’s investment firm expands services

February 9, 2011

Investment firm Talisman Global Asset Management announced on 8 February that it is expanding its investor base to include external clients, besides managing operations of its core investor, the William Pears Group.

The London-based investment firm was first established in 1998 as the asset management arm of the Pears family – one of the UK's wealthiest families with an estimated fortune of £1.5 billion. But it will now offer its investment services to external clients including family offices, endowments and foundations.

Trophy assets drive demand for real estate

September 6, 2010

Residential property deals of more than $20 million remain buoyant, but family offices are steering clear of commercial real estate reports David Bain.

When one of France's wealthiest families wanted to buy a new property in Europe, without hesitation they chose London. After a few months they finally settled upon a £30 million townhouse in Kensington with 10 bedrooms and nearly as many reception rooms. Charles McDowell, who runs his own property consultancy putting deals like the above together, says big deals have been little affected by the turmoil of the last few years, and if anything have been stronger than ever in the last few months.

Billionaire heir makes a tasty profit from Ocado listing

July 21, 2010

Jörn Rausing, one of the heirs to the Tetra Pak fortune, has made a tidy sum from one of the few initial public offerings on the London Stock Exchange this year.

Jörn Rausing, one of the heirs to the Tetra Pak fortune, has made a tidy sum from one of the few initial public offerings on the London Stock Exchange this year.

Rausing is thought to have made around £50 million from his initial 7% stake in Ocado, the groceries delivery firm, when it listed in London today. This initial stake cost Rausing around £15 million when he bought the shares back in 2003.

Sweet smell of success

August 28, 2009

James Bond creator Ian Fleming always wore it and Florence Nightingale penned thank-you letters for it. Family-owned Floris’s fragrances give an unapologetically old-fashioned experience discovers Claire Adler

The location of the original Floris boutique, in London's Piccadilly, is not just an advantage because of its proximity to affluent Londoners. Ever since its beginnings in 1730, Floris's location has also proved a distinct advantage when it comes to supplying the local royal palaces.

Police arrest Tetra Pak heir

April 11, 2008

The heir to the Tetra Pak fortune has been arrested on suspicion of possessing crack cocaine and heroin.

The heir to the Tetra Pak fortune has been arrested on suspicion of possessing crack cocaine and heroin. Hans Rausing, 44, who is the grandson of the packaging giant's founder, was arrested at his home in London yesterday.

The raid on his Chelsea home followed the arrest of his wife, Eva Rausing, who allegedly tried to take small amounts of cocaine and heroine into the US Embassy.

A spokesman for Scotland Yard confirmed the pair (pictured) had been arrested on suspicion of possessing Class A drugs and had been bailed until July, pending further enquiries.

Family business owner donates $40 million

March 28, 2008

A shipping billionaire has made a large donation to the National Maritime Museum in London.

A shipping billionaire has made a large donation to the National Maritime Museum in London. Sammy Ofer (pictured far right), whose empire includes Israeli shipping giant ZIM and Royal Caribbean Cruises Ltd, has pledged $40 million for a new wing in the museum.

Ofer served in the British Royal Navy before starting a shipping business with his brother, Juli. The business now operates a significant part of its fleet from London and Ofer's two sons, Eyal and Idan, manage different branches of the group. The family's wealth is estimated at $4 billion.