TGJones owner Modella weighs takeover of Harvey Nichols, Sky News reports
Modella Capital's Interest in Harvey Nichols: Key Details and Industry Context
July 20 (Reuters) - British private equity firm Modella Capital has expressed interest in buying luxury department store chain Harvey Nichols, Sky News reported on Monday, citing industry sources.
Background and Recent Developments
Here are some more details:
Competing Bids and Market Interest
• The investment firm's interest in the luxury retailer comes amid media reports of approaches by major British retailers Next and Frasers.
Uncertainty Around Modella's Intentions
• It is unclear how serious Modella Capital's intentions were for the retailer of everything luxury, ranging from cosmetics and fashion brands to food and wine, the report said.
Modella Capital's Retail Portfolio and Recent Acquisitions
• Modella Capital, which owns retailers such as Hobbycraft and Flying Tiger, recently bought and backed the restructuring of TGJones, WHSmith's former high street arm.
Official Responses from Involved Parties
• Harvey Nichols, Modella, Next and Frasers declined to comment on the matter when asked by Reuters.
• Next and Frasers have not publicly commented on reports of their interest in the brand founded in 1931.
Reporting Credits
(Reporting by Simone Lobo, Krisha Bhatt and DhanushVignesh Babu in Bengaluru; Editing by Devika Syamnath)
