Executives School Next Generation of Retailers - Retail News.

A select group of Britain's top retailers are taking training into their own hands. A new Fashion Retail Academy was recently opened in London with the purpose of training top talent for the retail business in the U.K.

An interesting element of the new learning institution is that it is being jointly funded by well known retailers such as Marks & Spencer, Tesco, GUS, Next and Arcadia along with recently formed, government-backed Learning & Skills Council (LSC).

"It is very unusual to get four retailers working together, but it has got to be better than poaching each other's staff," said Sir Philip Green, who owns some of the U.K.'s largest retailers including the Arcadia Group and British Home Stores.