PR Guru Who Inspired 'Ab Fab' Urges Mike Ashley to Save Harvey Nichols

Lynne Franks, the public relations expert who inspired the character Edina Monsoon in the iconic British sitcom Absolutely Fabulous, has publicly urged potential buyer Mike Ashley to contact her to help revitalize the struggling luxury department store Harvey Nichols.

Harvey Nichols is reportedly on the verge of collapse, facing closure within a year if a buyer or significant cash injection cannot be secured. The company has reported annual losses of £178 million and has not turned a profit for five years. Ashley, the former owner of Newcastle United and founder of Frasers Group, is considered the frontrunner to acquire the business after the retail chain Next reportedly withdrew its interest.

Franks, who previously worked for Harvey Nichols during its peak and helped shape its image, described the current state of the store as a tragic decline. "It’s tragic to see how it has fizzled out," Franks told The Mail. "I don’t know why I would be going there now or what I would be trying to buy."

She believes the store has lost its identity and marketing direction. "They just haven’t got the marketing right and the story right," Franks stated. "I think [a comeback] can be done if they’re smart and are very clear who their market is."

Harvey Nichols, known for its flagship store in Knightsbridge, London, has been impacted by a decrease in tourist spending following the COVID-19 pandemic and the cessation of a VAT-free shopping scheme. Historically, the store was a fashionable destination for the "fashion-forward," with creative director Mary Portas credited for its trendy appeal through initiatives like eye-catching window displays. Princess Diana was also a noted customer.

Frasers Group, which has been expanding its portfolio of luxury brands, is reportedly close to an announcement regarding a deal for Harvey Nichols, potentially as soon as this week. Franks previously suggested recruiting high-profile figures such as Victoria Beckham and Gwyneth Paltrow to inject new life into the brand, a suggestion that reportedly went unheeded. "It’s arrogance," she commented on the situation. "They’re in a mess."

Franks believes the store's best days were when it was "uniquely creative," citing Portas's window displays and the hosting of glamorous events. Despite skepticism about Ashley's ownership of a luxury brand given his background with Sports Direct, Franks sees potential. "He is a professional retailer, he is making a profit - which is more than Harvey Nicks’ are doing now," she said. "He should give me a call."

Ashley himself has described Harvey Nichols as being "in a death spiral" and anticipates a sale price below £40 million. The company employs 1,200 staff across its stores in Birmingham, Bristol, Dublin, Edinburgh, Manchester, and Leeds, as well as international locations in Riyadh, Dubai, Hong Kong, and Kuwait.

Concerns have also been raised about the possibility of private equity firms acquiring the business and subsequently closing stores. Franks expressed skepticism about private equity's long-term success in retail, noting, "A lot of the time that I see a private equity company moving into retail or fashion, they don’t seem to last. They don’t know what they’re doing."

She anticipates that potential buyers will explore shifting parts of the business to an online marketplace, drawing parallels with the former High Street chain Debenhams. "Retail is very, very tough, it’s very competitive," Franks concluded. "Outside of London, that market [for its stores] did tend to be footballers’ wealthy wives - they have lost that I guess. The flagship has got to improve and become more unique with brands and marketing - it needs to get exciting. Make it fun, make people want to go there as a destination. Let’s see what happens."