CITY WHISPERS: Has Alexa Chung gotten too big for her designer boots?

Fashion followers will remember that model and designer Alexa Chung closed down her label Alpha Charlie two years ago after a series of major losses.

The news shocked many given her style and social media influence: She has 6 million followers on Instagram and played a role in turning around Mark & ​​Spencer’s fortunes after her suede skirt flew off the shelves in 2016.

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

Her collection hit stores in 2017 with a zip-up overall for £340 and a floral summer dress for £590.

‘Her followers are mainly young girls on Instagram. They wanted things like her M&S skirts, which were a big hit,” the source said. “Instead, Chung was obsessed with making high-end clothes that didn’t sell.” Ouch.

Arnault complains about the fact that he drinks less champagne

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

His firm LVMH recorded a 16 percent drop in sales of effervescent tablets in the first quarter of this year, citing high inflation, dwindling pandemic savings and war in the Middle East and Europe as excuses.

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

Bankers’ bonuses are starting to filter in and, as always, the sleep-deprived young, highly ambitious people were squandering the money.

Peter Mandelson has access to the lounge at Heathrow

Peter Mandelson is in good form after his PR agency Global Counsel was valued at £30 million last week.

The dashing New Labor architect certainly gets air miles as part of his job, revealing to The Mail at a press conference on Sunday that he has access to lounges at Heathrow airport.

‘It’s my natural habitat. I’m a Terminal 5 guy. I love raising the flag. I’m in for the gold card,” he said. Nothing less for the Prince of Darkness.

Nationwide faces complaints about merger without voting rights

Nationwide is under pressure to give its 16 million members a say in its planned £2.9 billion 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.

Members’ voting rights are ‘one of the ways we differ from the banks’, crowed nationally. But no, the votes in the AGM are about other matters.

Or, as one dissatisfied customer put it: “One of the ways we are different from the banks is that we don’t consult our shareholders on transformative acquisitions.”