Upmarket London department store Harvey Nichols has turned to Cardew and
Co to handle City PR for its stock market flotation later this year.
A favourite haunt of Princess of Wales, the Knightsbridge store
announced plans on Monday to seek a listing on the London Stock Exchange
by the summer.
Dickson Concepts, the Hong Kong-based luxury goods company which bought
Harvey Nichols from the Burton Group in 1991, plans to sell up to 49.9
per cent of the firm for between pounds 70 million and pounds 80
Cardew and Co was appointed last week following a competitive pitch
against Gavin Anderson and Brunswick. Reporting to Harvey Nichols’ chief
executive Joseph Wan, the agency has been briefed to promote the float
to the financial press, sector analysts and investors.
Agency chairman Anthony Cardew said it would focus in particular on the
recent financial successes of the store and its programme of expansion.
Last year pre-tax profits jumped to pounds 6 million from just pounds
1.3 million in 1991.