Thank you for downloading the Bottom Line podcast. In this week's program, Evan Davis asks his guests from fashion and clothing, who is really in charge, rational corporate executives or prima donna designers.

Hello and welcome to the bottom line. With me today, I have three leaders from the world of clothing and fashion.

We'll find out if ordinary business rules apply in their world,

or is it more like football or perhaps newspapers where rich investors can go and spend their money rather than make it.

Let's take a few minutes to meet the three guests,

and first is Jane Shepardson, Chief Executive of Whistles.

Jane, just tell us about Whistles. What is special about it? It's a premium High Street brand, we call it, so it's top end of the High Street, but not quite at luxury prices. It's a small brand. It's got sort of small boutique-style stores. We've got about 40 of them in the UK, and we're also in Selfridges and Harvey Nichols. Women only. It's women only. At the cis stage, yes. You made your name in this business, we should say, at Topshop? Yes, I ran Topshop for a number of years. Yes, and I got to the stage where I decided... You were very successful at Topshop. You're being modest. You made it. We had a lot of fun turning Topshop from what was kind of, I guess, a fairly average teen store into something that was a bit more than that.

That's what I enjoy doing.

I like to create an experience this a little bit more than people are expecting, I suppose.

You're the retail end.

Also with us is Simon Berwyn, who's managing director of

Berwyn and Bowen. Simon, you're not so much in the retail business, but you do manufacture

a lot of men's suits. I mean, for lots and lots of clients. Tell us who you manufacture

them for. Mostly for the UK, from Next to Austin Reed, from Ted Baker to John Lewis, House of Fraser, Moss Brothers. So many retailers in the UK from next to Austin Reed, from Ted Baker to John Lewis, House of Fraser, Moss brothers.

So many retailers in the UK High Street. And we're now also building up a customer profile

in Europe. So very exciting times. Factories in Hungary and in China. We have a factory in

Hungary which we've owned for over 10 years. And then we've got a joint venture in China, which is just coming up to six years old. But you are based in Leeds. Now, in this world, is that a disadvantage? That obviously was the global capital of the textile business, wasn't it? Being based there is historic, but I happen to love the place, so that makes it easy. It's also very good to be surrounded by people who used to be in the industry.

So if you bump into them at the weekend, they make you feel good about the fact that you're still in the industry,

whereas during the week you may have felt less good.

Right.

Also with us is Kim Windsor, who's a fashion and retail expert with the Private Equity Group 3I.

Kim, your career, Marks and Spencer, Aquascutum, Pringle.

...