<\/p>\n
Harvey Nichols Edinburgh almost lost a key brand, according to sources (pic: DB Media Services)<\/p>\n
Frasers Group is attempting to persuade a number of big beauty brands back into Harvey Nichols after they withdrew from the stores over payment concerns, according to a report.<\/p>\n
Mike Ashley\u2019s retail group, which acquired the upmarket chain in the summer, has approached brands such as L\u2019Or\u00e9al\u2019s luxury portfolio, including Armani, Yves Saint Laurent Beaut\u00e9 and Lanc\u00f4me, which pulled out ahead of the deal.<\/p>\n
Est\u00e9e Lauder-owned labels including Tom Ford, La Mer and Est\u00e9e Lauder also withdrew before its collapse, as well as Shiseido-owned Nars. LVMH\u2019s Loewe considered leaving the retailer\u2019s Edinburgh store, according to the The Times which says the label continues to be an \u201cimportant strategic brand partner\u201d.<\/p>\n
A source told the media group that the withdrawal of brands had left \u201csome quite significant gaps [in the beauty hall].\u201d<\/p>\n
The department store chain was put up for sale by the Hong Kong billionaire Sir Dickson Poon following years of losses.\u00a0Frasers fended off Next to acquire the business in August through a pre-pack administration and committed to retaining all the stores.<\/p>\n
It quickly changed its plans by announcing that the Bristol and Leeds stores will convert to its Flannels brand, while the store in Birmingham will close in January. The u-turn created uncertainty among its employees in the other remaining stores.<\/p>\n
Frasers, which also owns House of Fraser and Flannels, recently increased its stake in Hugo Boss, the German luxury fashion house, to almost 50%.\u00a0<\/p>\n
Michael Murray, the Frasers chief executive and Ashley\u2019s son-in-law, has said that turning around Harvey Nichols will require \u201ctough choices\u201d, adding: \u201cWe 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.\u201d<\/p>\n
Daily Business Bulletin:\u00a0Subscribe here for our free morning bulletin of breaking news<\/p>\n
\t #Ashley #talks #lure #brands #Harvey #Nichols #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
Harvey Nichols Edinburgh almost lost a key brand, according to sources (pic: DB Media Services)…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[4316,3039,272,306,17201,19229,19228,8235,13656,3741],"_links":{"self":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/19433"}],"collection":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19433"}],"version-history":[{"count":0,"href":"https:\/\/stock999.top\/index.php?rest_route=\/wp\/v2\/posts\/19433\/revisions"}],"wp:attachment":[{"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stock999.top\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}