English billionaire businessman, owner of sports-fashion retail empire
The Guardian reports Harvey Nichols has not turned a profit since the pandemic and is up for sale. Frasers Group and Next are among bidders, with Mike Ashley calling the business a “death spiral.” Directors warn funding could run out within a year, while potential buyers weigh whether to revive the luxury retailer, including possible rebranding of stores.
Frasers Group has announced a cash offer of €38 per share to acquire the remaining shares of Hugo Boss, valuing the German luxury brand at about €1.98bn. The bid aims to take full control of Hugo Boss as Frasers continues its strategy of expanding upmarket brands. Hugo Boss will examine the proposal and may put it to a vote subject to regulatory clearances.