The boss of Harvey Nichols has quit the retailer he first joined 25 years ago after tensions over its strategy, and a member of the owning family will take over.
Manju Malhotra started at the Knightsbridge store in London in 1998 as a newly qualified accountant and rose through the ranks before becoming chief executive in January 2020, before the Covid pandemic forced the closure of stores.
The exit of the down-to-earth Londoner, whose first retail experience was helping out at his parents’ fashion store on Brick Lane in the East End, comes after a series of strategic moves by the Hong Kong-based owner. Sir Dickson. Poon.
It is understood that Malhotra did not agree with the owners of the company’s restructuring move. According to the Daily Telegraph, Malhotra wants to make significant changes after years of losses at the group, which has eight stores in the UK and Ireland, including major outlets in Edinburgh, Birmingham, Leeds and Manchester , as well as a specialist beauty shop. in Liverpool and five branches abroad.
He will remain in his 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 Malhotra’s replacement is appointed. The company said Pearson Poon will work closely with Malhotra until he leaves.
Dickson Poon, who has owned the retailer since 1991 and is its chairman, thanked Malhotra for his loyalty. He said: “Manju has been instrumental in driving the business to unprecedented times and laying strong foundations that we will continue to build on for the future.”
Malhotra said: “I’ve had the most amazing 25 years at Harvey Nichols, starting as a member of the finance team to being CEO… Together, we’ve strengthened Harvey Nichols, using the position it in the market as a luxury destination that delivers exceptional in-store and digital customer experiences.”