Mohamed al-Fayed back in fashion business

Mohamed al-Fayed is to return to shopping with a new online

retail empire.

The former Harrods owner is in talks to buy the online fashion business, Cocosa, from Bauer Media – which also owns Grazia magazine and Kiss radio station.

Cocosa, a private membership fashion website set up in 2008, has more than 400,000 members. It sells luxury brands at discount prices to its members. Mr Fayed sold his Harrods business for £1.5bn to Qatar Holdings last year. If talks are successful to buy Cocosa, he will use the business as the launch pad for his online retail empire.