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Next and Frasers go head to head for control of Harvey Nichols
['Felix Armstrong', 'Retail Reporter']
City AM
Next and Frasers go head to head for control of Harvey NicholsHarvey Nichols is being put up for auction by owner Sir Dickson PoonRetail giants Next and Frasers are set to go head to head for control of ailing department store Harvey Nichols when the Hong Kong-owned firm takes bids from British suitors later on Tuesday.
Harvey Nichols has given interested British parties until the end of Tuesday to table their final takeover bids, City AM understands.
For FTSE 100 retail giant Next, its interest in Harvey Nichols is relatively straightforward.
Analysts said Next could use its “total platform” system – which provides online logistics and marketing to third-party brands – to upgrade Harvey Nichol’s minimal online presence.
Flannels would provide a “strong strategic fit” for Harvey Nichols, Found said.