Harvey Nichols chief executive Manju Malhotra is stepping down at the end of the year. The luxury department store’s executive director Pearson Poon has been promoted to vice chairman and will lead the business until Malhotra’s successor has been appointed.

The shake-up follows a challenging period for Harvey Nichols, which was slow to bounce back from the impact of Covid-19. Turnover for the year ending April 2, 2022 was £57.8 million ($73.4 million), over 30 percent below pre-pandemic levels, according to public filings. Losses for the year totalled £4.7 million.

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Harvey Nichols Partners with Reflaunt to Launch Resale Service

The British department store said on Thursday it is partnering with the resale technology provider to help customers purchase and sell pre-owned clothing, accessories and watches. Those selling their items can earn up to 80 percent back of the original price of their products. The service will be available online and in-store in the UK from Aug. 26.