Drawing on our retail sector experience, we advised Frasers Group on its acquisition of Harvey Nichols from FTI Consulting LLP.
Harvey Nichols is one of the U.K.’s most recognized luxury retailers, with a heritage spanning almost 200 years and a portfolio of more than 800 premium and luxury brands. The acquisition includes Harvey Nichols portfolio of six stores, including the newly refurbished Knightsbridge London flagship, Manchester, Birmingham, Bristol, Leeds, and Edinburgh, together with its online business, existing inventory, and over 1,000 employees. Harvey Nichols’ international franchise agreements form part of the transaction, and international franchise stores will continue trading under existing licensing arrangements.
Harvey Nichols has faced sustained trading and operational challenges in recent years, and Frasers is uniquely positioned to provide it with the strategic platform and operational experience required to reshape the business and create a more commercially sustainable future.
The acquisition strengthens Frasers’ luxury positioning alongside FLANNELS, The Webster and HULCAN’s MILE, while deepening its relationships with many of the sector’s leading global luxury brands, including Gucci, Moncler, Burberry, Prada and Dior.
The sale was implemented through a pre-pack administration process following the appointment of FTI Consulting LLP as administrators by the court.
Our team was led by Jeremy Drew, Ed Chapman, Henry Priestley, Stephen O’Grady, Emma Oakley, Sian Skelton and Vikki Wiberg. The team also included Kirsten Fulton-Fleming, Jordan Cooper, and Becky Chapman (Restructuring); Francesca Gibbs (Real Estate); Paul Callaghan, Mark Smith, James Tamm, and Afshan Mallik (Labor & Employment); and Liz Wilson (Tax).