Harvey Nichols boss resigns after strategy dispute with owner
The boss of Harvey Nichols has quit the retailer she first joined 25 years ago after tensions over its strategy, and a member of its owning family will take the reins.
Manju Malhotra started at the Knightsbridge store in London in 1998 as a newly qualified accountant and worked her way up through the ranks before becoming chief executive in January 2020, just before the Covid pandemic forced stores to shut.
The exit of the down-to-earth Londoner, whose first experience of retail was helping out in her parents’ fashion store off Brick Lane in the East End, comes after a row over strategy with the group’s Hong Kong-based owner, Sir Dickson Poon.
It is understood Malhotra disagreed with the owners over the pace of change at the company. According to the Daily Telegraph, Malhotra wanted to make significant changes after several years of losses at the group, which has eight stores in the UK and Ireland, including large outlets in Edinburgh, Birmingham, Leeds and Manchester, as well as a specialist beauty shop in Liverpool and five overseas branches.
She will remain in her role until the end of December while 29-year-old Pearson Poon, an executive director and son of the owner, will lead the business as vice-chair until the appointment of Malhotra’s replacement. The company said Pearson Poon would work closely with Malhotra until she leaves.
Dickson Poon, who has owned the retailer since 1991 and is its chair, thanked Malhotra for her loyalty. He said: “Manju has been instrumental in driving the business through unprecedented times and laid out strong foundations which we will continue to build on for the future.”
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Malhotra said: “I have had the most amazing 25 years at Harvey Nichols, starting from a member of the finance team to becoming CEO … Together, we have galvanised Harvey Nichols, leveraging its position in the market as a luxury destination delivering exceptional in-store and digital customer experiences.”