One of the most powerful men in fashion retail has prompted speculation he wants to block the latest David Jones takeover bid.
David Jones has revealed Solomon Lew now holds a 9.89 per cent stake in the business, making him a substantial shareholder.
There is speculation his growing stake is an attempt to block Woolworths' $2.2 billion takeover of the department store.
Yesterday, ragtrader.com.au reported that shareholders in the South African Woolworths have approved the potential acquisition.
Last month, Solomon Lew purchased 3.5 million shares in David Jones via his company SL Nominees.
The purchase granted him an 0.65 per cent stake in the department store.
Lew is the head of Premier Investments, home to brands such as Dotti, Peter Alexander, Portmans and Just Jeans.