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Former Asda Boss Backs New Fashion Chain Set to Storm UK High Street

Ex-Asda executive Andy Bond has been tapped to lead the launch of a new UK fashion retailer that will reportedly take on discounters like Primark, TK Maxx and Marks and Spencer with its own affordable fashion for mothers and children.

The chain, which is for now being called Project 50, is slated to launch in July 2015 and will open 50 stores with a 20 million pound ($) investment from South African retail tycoon Christo Wiese, the Mail on Sunday reported.

Property agency Savills has been enlisted to locate high street retail space between 2,000 and 5,000 square feet for the stores.

Bond was reportedly brought on for the project because of his experience at supermarket and general merchandise chain, Asda, where he worked as chief executive for five years and as chairman for less than one year before leaving to run Wiese’s U.K. investment business.