Al Fayed buys Cocosa

Former Harrods boss, Mohammed Al Fayed, has made his first fashion move since selling

Harrods to Qatar Holdings in May last year.

He has bought online designer discount store, Cocosa, from the Bauer Media group, to form a company called Cocosa Lifestyle.

This could mean the start of an online empire for Al Fayed; Cocosa was launched in 2008 and hosts around 50 sales per month on top designer names such as Mcqueen and Temperley.