Harvey Nichols COO Manju Malhotra Promoted To CEO
UNITED KINGDOM — British luxury department store chain Harvey Nichols has promoted its chief operating officer to its top job with Manju Malhotra becoming CEO with immediate effect. It means she’ll be tasked with running both the UK and international stores, as well as the online business, at the most challenging time for luxury retail in many decades.
The firm’s UK stores have faced months of on-again, off-again closures and with the UK about to enter stricter lockdown measures, there’s no end currently in sight. It was just announced that UK Prime Minister Boris Johnson announced a national lockdown for England expected to remain in place at least through the middle of February (for now).
But the webstore has taken up some of the slack with a doubling of sales in the past two years and a current growth rate in double-digits.
Malhotra will guide the firm’s further investment in its e-commerce operation following several years of heavy spending on its physical spaces.
The new CEO joined the company as far back as 1998 and moved up through the business to become its financial chief a decade ago. She became co-COO along with Daniela Rinaldi three years ago, but Rinaldi left after 35 years with the retailer in late 2019. At that point, Malhotra became solo COO.
She’s been working closely with Hong Kong-based executive director Pearson Poon in recent years and will continue to do so in her new role. She’ll also continue to report directly to chairman and owner Dickson Poon.
Commenting on her promotion, she said the short-term retail outlook is unpredictable, but she’s “hugely excited about the future plans and opportunities for the fantastic Harvey Nichols brand”.
Dickson Poon also highlighted her financial background and her leadership skills in developing strategies and driving the business’s performance during the pandemic crisis period.
Photos Credit: Harvey Nichols’s web store