Harvey Nichols deepens focus on fashion and beauty as other category jobs are put at risk
has put 70 jobs at risk and for once in the luxury downturn, they're not in the fashion department, as the high-end department doubles down on its commitment to fashion and beauty.
Upmarket foods may have been a growth area for many retailers in recent years, but Harvey Nichols is scrapping its grocery and festive hamper offer as it addresses losses and refocuses on its core products offer.
It's closing several non-core operations that The Times reported include own-brand food, hampers, corporate food sales, and its online food marketplace.
Beauty remains a key part of its offer, despite the retailer recently shutting its multi-storey, 13-year-old Beauty Bazaar store at the Liverpool One mall.
It's part of a wider three-year strategy spearheaded by still-new CEO Julia Goddard that's all about returning the retailer to its glory days as a must-visit store focused on luxury fashion and linked categories.
The Times also reported that it has seen unpublished figures showing the company's net loss before tax widened to £34 million in the year to March 31 2024 from £21 million the year before. That marks half a decade of consecutive losses with high interest rates and costs linked to its pre-Goddard restructuring programme being blamed.
In a statement, the retailer said: 'Harvey Nichols is undergoing a significant transformation to re-establish the brand as a British icon and flagship destination. This involves major changes, including a substantial refurbishment of our Knightsbridge flagship store to significantly enhance the store's attractiveness and customer experience.
'In line with this strategy and the focus on our core fashion and beauty edit, we are putting forward proposals regarding the non-core areas of our business and the restructuring of some of our teams. We are committed to supporting all affected employees through this transition and ensuring the long-term success of our business.'
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