LONDON — It happened at Harrods, then at Selfridges, and now Harvey Nichols is set for a generational change of ownership as Sir Dickson Poon puts the luxury department store group he’s owned for 35 years up for sale. The store is said to be in “active negotiations” with multiple interested parties in the U.K. and internationally, with a first round of bids due later this month. According to sources, different strategic options are under consideration, from an outright sale to taking on new investors.
Although Harvey Nichols is loss-making, sales have recently begun to perk up following the appointment of Julia Goddard as chief executive officer two years ago. She has been overseeing a three-year, multimillion-pound refurbishment of the Knightsbridge flagship, recasting the store to appeal to the local, well-heeled consumer.
Harvey Nichols said it does not comment on market speculation. Reports of a potential sale were first published by Sky News late last month.
In a statement, Harvey Nichols said it remains “fully focused” on delivering its transformation strategy. “We are making strong progress across the business, including a complete refurbishment of our flagship store in Knightsbridge, which is showing positive early signs of growth and reinforces our confidence in the direction of the business,” the statement added.
