CITY WHISPERS: Did Alexa Chung get too big for her designer boots?

Alexa Chung: Six million followers on Instagram

Fashion followers will remember that model and designer Alexa Chung shut down her Alpha Charlie label two years ago after a string of big losses.

The news shocked many given her style and social media clout – she has 6 million followers on Instagram and played a part in turning around Mark & Spencer’s fortunes after her suede skirt flew off the shelves back in 2016.

But a source close to Chung now says the reason for her firm’s demise was her lofty ambitions leading to a focus on pricy high-end design rather than affordable everyday wear. 

Her collection hit the stores in 2017 with a pair of zip-front overalls for £340 and a floral summer dress for £590.

‘Her followers are mostly young girls on Instagram. They wanted things like her M&S skirts, which were a huge success,’ the source said. ‘Instead Chung was obsessed with creating high-end clothing that didn’t sell.’ Ouch.

Arnault bemoans drop in champagne drinking 

French billionaire Bernard Arnault spent the week berating his fellow countrymen as well as the Chinese and Americans for not drinking enough champagne.

His firm LVMH noted a 16 per cent drop in sales for fizz for the first quarter this year, with high inflation, dwindling pandemic savings and war in the Middle East and Europe offered as excuses.

But a walk around London’s Square Mile on Tuesday evening revealed no sign of demand slowing for Moet & Chandon, Krug and Veuve Clicquot.

Banker bonuses have started to filter through and, as ever, the young, highly ambitious and sleep deprived were out splashing the cash.

Peter Mandelson has lounge access at Heathrow

Peter Mandelson has been in chipper form after his PR firm Global Counsel was valued at £30million last week. 

The dashing architect of New Labour certainly gets in the air miles as part of the job, revealing to The Mail on Sunday at a news conference that he has lounge access at Heathrow airport. 

‘It is my natural habitat. I’m a Terminal 5 man. I like to fly the flag. I go in on the gold card,’ he said. Nothing less for the Prince of Darkness.

Nationwide faces complaints over merger non-vote 

Nationwide is under pressure to give its 16million members a say over its planned £2.9billion takeover of rival lender Virgin Money.

So when an email dropped last week urging them to vote at the annual meeting in June it seemed the building society had caved in to campaigners.

Member enfranchisement is ‘one of the ways we are different from the banks’ Nationwide crowed. But, no, the AGM votes are on other matters.

Or, as one disgruntled customer put it: ‘One of the ways we are different from the banks is we do not consult our shareholders on transformative acquisitions.’

This post first appeared on Dailymail.co.uk