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Transformation of the CFO role at Harvey Nichols


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brands taking space for short one or two- month periods. These sorts of changes have also impacted


on the role of the finance team and CFO, according to Malhotra, who says: “ The finance team are involved in measuring performance, particularly of the refurbished areas, and also assessing the prospective pop-ups to ensure that we use the space effectively. There always has to be a return on investment.” Harvey Nichols has also chosen to include


more flexible fittings in its ongoing store transformation that will enable changes to be made to its interior. “When you built department stores in the past, significant changes were not expected to be made for a long time. Things are more dynamic today and


we designed the space to allow it to evolve, e.g. to include new customer experiences,” explains Malhotra. The specific changes made so far to the


London store have had a positive impact, with an increase in spend being experienced. This has been bolstered by the fall in the value of the pound, which has pushed up the number of visitors from overseas. “We’ve always enjoyed a significant


international customer base but since July there has been a noticeable increase in spending. Our regional stores - including Edinburgh, Manchester, Leeds and Birmingham - have also benefited as the international visitor is travelling beyond London, particularly the Chinese.” says Malhotra.


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