Up-market department store Harvey Nichols, which launched onto the Stock Exchange earlier this year, is eyeing both Newcastle and Manchester as the next targets in its expansion plan. It has long term ambitions to take the brand abroad.
Announcing only its second set of figures since the float in April, the group said it wanted to open a total of four stores in the UK, including the latest which opened in Leeds in October.
A spokesman said: “We are looking at Manchester, Newcastle, Edinburgh and Glasgow. But where we eventually go will depend on a number of factors such as the catchment area and the percentage of high tax rate payers in the area.”
He confirmed that several sites had been considered but a decision was still some way off. “Although the Leeds store is trading ahead of expectations, it is still early days and we would want to wait before deciding to open another store. We are looking but doing our homework into all the factors which make up a good store location.” He added that 1998/99 would be the sort of time frame being considered.
Meanwhile the Oxo Tower restaurant over looking the River Thames will be followed by at least one new central London outlet by the end of next year and two if the right location can be found. Earlier this year a 650 sq m (7,000 sq ft) property in Waterloo Place, W1, was considered and discounted.
The spokesman ruled out any plans to open concessions or satellite outlets in airports and other towns, which he said would dilute the brand, but did admit that taking the Harvey Nichols name abroad was a “long term aspiration”.
EGi News 13/12/96
