This devastating news comes courtesy of Maurice Saatchi and his fellow M&C Saatchi founding partner, David Kershaw.
With the enticing prospect of winning the multimillion-pound Matalan clothing account, Kershaw, whose sartorial forays rarely extend beyond Marks & Spencer, broke the shopping habits of a lifetime. For the agency's presentation to the Matalan board, Kershaw decided to sport a £56 Matalan Copperstone suit. All in the interests of market research, you understand, and nothing to do with brown-nosing a big new client.
It so happens that Kershaw's "whistle bears a striking resemblance to the £450 Kenzo numbers worn by Saatchi. So the pair toured the agency asking staffers if they could tell the difference. Nobody could.
Kershaw, now with a groaning wardrobe of creations from the new client, is threatening to become "Matalan man". Prepare to find him cutting a dash on the links in a pair of Matalan golfing slacks - a snip at just £16 in the catalogue. And don't miss the Solus Club's autumn event and the sight of Kershaw clad in his £50 Matalan dinner suit.
So is Maurice miffed at the idea of being taken to the cleaners? Not at all, it seems. "I'm sure he'll be seen in Matalan very soon, an M&C toiler confides.