British private equity firm Modella Capital has expressed interest in buying luxury department store chain Harvey Nichols, Sky News reported on Monday, citing industry sources.
Here are some more details:
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The investment firm’s interest in the luxury retailer comes amid media reports of approaches by major British retailers Next and Frasers.
- It is unclear how serious Modella Capital’s intentions were for the retailer of everything luxury, ranging from cosmetics and fashion brands to food and wine, the report said.
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Modella Capital, which owns retailers such as Hobbycraft and Flying Tiger, recently bought and backed the restructuring of TGJones, WHSmith’s former high street arm.
- Harvey Nichols, Modella, Next and Frasers declined to comment on the matter when asked by Reuters.
- Next and Frasers have not publicly commented on reports of their interest in the brand founded in 1931.
