George's last hurrah

While chairman Sir Stuart Rose has done everything he can to downplay Davies's departure, it is a worrying blow for the chain. With annual sales of around £500 million, per una is, unofficially, the best performer of all the Marks & Spencer brands. Will it continue to triumph without George? That depends on Helen Lowe, the current head of M&S's casualwear, who is poised to step into his shoes.

Davies's final collection, exclusive pictures of which are shown here, is not so much an effusive swansong as a neat exercise in what sells. He has cut back on the frills, sequins and flounces that characterise per una's current collection and focused instead on the basics, expanding the existing denim range to include new, catwalk-inspired pieces such as the Charlie Girl jean, a high-waisted flare. At the risk of terrifying the store's more mature customers, many of whom rely on per una when the rest of M&S seems focused on pleasing twentysomethings, there is a more youthful feel to this new collection. It's evident in the denim shorts, the waistcoats and the aforementioned flares, in a variety of light and dark washes.

What will George do next? Despite him confessing to me last year that he would like to do "the X Factor but for fashion", he is unlikely to pop up on our TV screens any time soon. He has also been linked with the Italian designer brand Lovesexmoney, although his people will neither confirm nor deny it. After 26 years working on the high street - he founded Next in 1982, going on to launch George at Asda in 1990 - you wouldn't bet against him dabbling with a more exclusive brand. It might not be within his comfort zone, but when you've got a personal fortune as big as Davies's to play with, you can afford to take a gamble.

All clothes from per una at M&S. Available in store from January (0845 302 1234)