Retail giants Next and Frasers Group are set to submit their final takeover bids for the department store Harvey Nichols today, Tuesday, 28 July 2026. The Knightsbridge-headquartered firm, owned by Hong Kong billionaire Sir Dickson Poon, was put up for sale last month.
Harvey Nichols is seeking a buyer to upgrade its store estate and drive international expansion. The company's leadership is reportedly looking for a bidder committed to upgrading its Edinburgh store and enhancing its international and online presence.
Next, a FTSE 100 company, has a history of acquiring high street brands and aims to extend its brand portfolio and reach a more affluent customer base. Retail analyst Nicholas Found suggested a deal would mark a step up for Next into luxury retail.
Frasers Group, a FTSE 250 firm, is pursuing Harvey Nichols as part of its strategy to expand into high-end fashion, building on its existing designer brand Flannels. Analyst Nicholas Found noted that Flannels could provide a "strong strategic fit" for Harvey Nichols.
Modella Capital, a private equity firm, is also attracting interest, but sources familiar with the matter suggest it is considered less likely to table a final bid due to reports that Harvey Nichols is demanding a £60m commitment for business turnaround.
Harvey Nichols's leadership is expected to choose its new owner towards the end of next week.