Harvey Nichols bought by Sports Direct owner
Summary
The Frasers Group, owned by Mike Ashley, has bought the luxury department store Harvey Nichols. The deal includes six stores, the online business, and international franchises, with stores continuing to operate under current licenses.Key Facts
- Frasers Group, owned by Mike Ashley, purchased Harvey Nichols.
- Harvey Nichols has six stores, including its main one in Knightsbridge, London.
- The deal includes the brand's online business and international franchise rights.
- Harvey Nichols sells more than 800 premium and luxury brands and employs over 1,000 people.
- The company warned it might have to close if it didn’t get new investment.
- Harvey Nichols entered administration (a process to handle financial trouble) in June 2026.
- Frasers Group plans to make changes to improve and strengthen the business.
- Harvey Nichols’ CEO said the purchase is an important step for the company’s future growth.
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