Debenhams has clawed back fashion market share as its shares were buoyed by Dubai-based Landmark Group disclosing it had bought a 7 per cent stake in the department store group.

The chain’s fashion market share has grown 10.1 per cent in the past six months to 3.6 per cent, according to TNS. The growth is in defiance of critics, who have blamed its poor fashion credentials for a string of profit warnings.

Landmark, which is linked to 13 per cent Debenhams shareholder Baugur, bought its stake in the chain via Milestone Resources when shares were at an all-time low.

As revealed in last week’s Retail Week, it is expected that Baugur will launch a bid for Debenhams in partnership with an overseas retailer early next year.

Sources close to Debenhams insisted they do not expect the stakebuilding to presage a full bid.

* Arcadia’s market share of 7.7 per cent in the six-month period was its highest level since the summer of 2005.

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