Companies

Frasers Group acquires Harvey Nichols

Aug 14, 2026 United Kingdom

Frasers Group has officially acquired the UK-based loss-making luxury department store chain Harvey Nichols out of administration, gaining control from businessman Dickson Poon

FTI Consulting LLP, acting as administrator for Harvey Nichols, was responsible for facilitating the sale. The financial terms were not disclosed.

The acquisition includes the portfolio of six Harvey Nichols stores, including the Knightsbridge flagship in London, as well as the stores in Manchester, Birmingham, Bristol, Leeds and Edinburgh. It also includes the online business, the existing inventory and over 1,000 employees.

Franchise stores will continue to trade under their current licensing arrangements, and certain assets of the Dublin store, including stock and fixtures, have also been acquired. The OXO restaurant has been sold to another buyer and is not included in the transaction.

The statement acknowledges that Harvey Nichols has faced “sustained trading and operational challenges in recent years” and that a significant restructuring is “required to create a sustainable business for the future”. This will include a review and rationalisation of the store portfolio, organisational structure, operating model and cost base.

“Harvey Nichols is an iconic British institution with significant potential, but it is clear meaningful change is needed. The turnaround will require tough choices, and we are prepared to make those decisions, even if that means a smaller business in the near term, to create a stronger and more sustainable Harvey Nichols for the long term”, said Michael Murray, Frasers Group Chief Executive Officer.

Julia Goddard, Chief Executive Officer of Harvey Nichols, said that this deal “marks an important milestone for Harvey Nichols”.

“Over the past year, we have made significant progress in repositioning this iconic business, investing in our flagship store, broadening our customer proposition, and strengthening the brand DNA”, she emphasised.

Goddard concluded: “I look forward to working closely with Frasers Group to build on the momentum already underway, driving sustainable growth through greater operational efficiency and enhanced infrastructure, and continued investment into customer experiences to ensure Harvey Nichols remains a distinct and relevant luxury destination for both our customers and brands”.

Image Credits: timeout.com

United Kingdom Acquisitions Companies Luxury