PR Guru Behind 'Ab Fab' Urges Mike Ashley to Revive Harvey Nichols

Lynne Franks, the public relations expert who inspired the character of Eddy Monsoon in the popular British sitcom "Absolutely Fabulous," has expressed a desire to help Mike Ashley revive the struggling luxury department store Harvey Nichols. Ashley's Frasers Group is reportedly close to a deal to acquire the retailer.

Franks, who worked with Harvey Nichols during its peak, described the current state of the store as a tragedy, noting that it has "fizzled out." She stated that the brand has lost sight of its identity and its marketing and messaging have been mishandled. "I don't know why I would be going there now or what I would be trying to buy," Franks told The Mail, but added that a comeback is possible if the company becomes "smart and very clear who their market is."

Harvey Nichols, known for its flagship Knightsbridge store in London and a presence in several other UK and international locations, faces significant financial challenges. The company has reported annual losses of £178 million and warned of potential closure within a year if a buyer or cash injection is not secured. Factors contributing to its downturn include a decline in tourism spending following the COVID-19 pandemic and the removal of VAT-free shopping for tourists.

The store was once a destination for the "fashion-forward," a transformation credited to former creative director Mary Portas, who also facilitated the "Absolutely Fabulous" product placement. However, owner Sir Dickson Poon put the business up for sale in June, with talks now at a critical stage.

Frasers Group, which has been expanding its portfolio to include luxury brands, is considered the frontrunner. Franks suggested that Ashley, as a "professional retailer" who is currently profitable, could be the right person to lead a revival. "He should give me a call," she urged.

Ashley himself recently described Harvey Nichols as being in a "death spiral" and anticipates a sale price below £40 million. The business employs 1,200 staff across its locations. Speculation also suggests a private equity bidder might consider acquiring the business and closing some of its physical stores.

Franks expressed skepticism about private equity's long-term success in retail, stating they often "don't know what they're doing." She anticipates that potential buyers will explore shifting parts of the business to online platforms, drawing parallels to the former High Street chain Debenhams. "Retail is very, very tough, it's very competitive," she commented, adding that the market, particularly outside London, has shifted away from its traditional customer base of "footballers' wealthy wives."

To succeed, Franks believes the flagship store must become more unique in its brand offerings and marketing, creating an exciting destination that entices customers. "Make it fun, make people want to go there as a destination," she advised.