After cutting her teeth at the family firm, the Matalan heiress is making a name for herself in luxury after buying Fenn Wright Manson and now Nicole Farhi.

Maxine Hargreaves-Adams

It’s been a busy month for the Hargreaves family. Jason, the son of Matalan founder John Hargreaves, was appointed managing director of the family business just two weeks ago, but now it’s his sister Maxine’s turn to steal the spotlight.

Maxine Hargreaves-Adams last week emerged as the saviour of collapsed fashion retailer and brand Nicole Farhi.

She is fast establishing herself as a white knightess after stepping in to buy Fenn Wright Manson out of administration last year.

Much like Jason, she learnt her trade in the family firm, rising to director of fashion at Matalan.

However, her success was not down to nepotism according to a source who worked alongside her at the fashion and home retailer.

“She’s a chip off the old block. She definitely knows her stuff and is very talented,” says the source.

Hargreaves-Adams is the eldest of Matalan owner Hargreaves’ three children. She arrived before he earned his fortune - he is now the 84th richest man in Britain, according to this year’s Sunday Times Rich List - when he was making his living on a market stall in Liverpool aged 20.

He set up Jaymax, named after his two eldest children, when Maxine was still a child. It grew to nine stores before he struck gold with new idea Matalan, inspired by out-of-town discount clubs that he saw on a trip to the US.

Like her father, Maxine left school at a young age to focus on business. As well as working for the family, she also opened a boutique in Southport called Maxine’s, which she ran for four years.

Product was always Hargreaves-Adams forté and she was highly thought of at Matalan.

“She was respected by her team.

She likes a laugh and a joke but she’s a Liverpudlian, she’s hard as nails,” says the source. Despite her humble beginnings, Hargreaves-Adams now moves in high circles. She is friends with royalty and has attended Sir Elton John’s annual White Tie and Tiara ball.

However, she is no society princess. According to those who know her, she is focused and determined and has a good head for business.

Hargreaves-Adams’ talents have been evident in the improvement of Fenn Wright Manson. She has helped reconnect with its customers by returning to its casualwear roots.

Fashion blogger Vicki Day says: “I can’t rate her highly enough for her turnaround of Fenn Wright Manson and how quickly she’s done it. She clearly knows her customer and has given them the quality, well-cut clothes they want.”

Hargreaves-Adams aims to orchestrate a similar turnaround at her new business.

She says: “Nicole Farhi is an iconic British brand that I was always a fan of and recognise the opportunity to return it back to its iconic status.

“I believe the brand has huge potential both in the UK and internationally.

“We will continue to focus on the core values that have made Nicole Farhi great and focus on re-establishing the unique positioning of the brand.”

The Hargreaves family’s buying spree is understood to be part of a strategy to diversify its retail empire beyond the value sector.

John Hargreaves also owns menswear brand Wolsey, and in June the family bought a majority stake in womenswear chain Damsel in a Dress.

The family is also understood to be considering launching a sportswear chain.

Like her father, Hargreaves-Adams is a keen philanthropist and supporter of the NSPCC. The retail dynasty may continue a generation further, since she has three children of her own with restaurateur Paul Adams.

Outside work, Hargreaves-Adams keeps herself fit through yoga and aerobics and is a keen yachtswoman.

The Matalan heiress will hope to make the revival of Nicole Farhi plain sailing.

Maxine Hargreaves-Adams

Hobbies Yoga, aerobics, yachting

Business interests Fenn Wright Manson, acquired 2012; Nicole Farhi, acquired 2013

Education Maghull High School, Merseyside