"Per Una" was launched on 28 September 2001 as a joint venture between M&S and Next founder George Davies with the contribution of Julie Strang. The Per Una brand has been a major success for the company, and in October 2004, M&S bought the brand in a £125 million, two-year service contract with George Davies. Davies was to stay on for at least two years to run the company, with 12 months notice required if he wished to leave.
