Harvey Nichols’ new chief executive will be expected to replicate the success she had in ecommerce and international expansion at Burberry.

Stacey Cartwright

Stacey Cartwright became one of the most powerful women in retail last week when she was unveiled as Harvey Nichols long-standing boss Joseph Wan’s successor.

Wan, who has been at the department store for 21 years, is a tough act to follow. However, Cartwright is a safe pair of hands to take over.

She is no stranger to the retail boardroom, having spent nine years at Burberry as chief financial officer and executive vice-president.

She helped navigate the luxury retailer through tough times during the noughties when its brand seemed irreparably damaged by its signature check design becoming synonymous with ‘chav’ culture.

Cartwright aided chief executive Angela Ahrendts in overhauling the company and helped bring the brand from chav to chic again.

Burberry is now one of the biggest luxury retailers in the world and coveted by fashionistas and investors alike.

As soon as Ahrendts was appointed in 2006, Cartwright was immediately involved in implementing her turnaround plan and the pair moved fast to both redefine the strategy and build the financial base to support it.

Cartwright has a long history in finance. She started off at PwC as a chartered accountant before moving to media business Granada. She was chief finance officer of Egg bank before being wooed by Burberry.

Cartwright, who was one of the few women financial directors in the FTSE 100 at Burberry, was well regarded by the City. Her high standing is exemplified by Burberry’s share price falling by more than 6% when her departure was revealed early last year.

However, she is not just a numbers person. She was promoted to executive vice-president of the retailer in 2008, expanding her remit across all business areas including pricing, ecommerce, franchising, product and systems.

She spearheaded many strategic projects such as a technology overhaul to improve its supply chain and logistics. The retailer made £50m savings in 2009, its first year of adoption of its new tech systems.

Burberry, which has carved a reputation as a digital innovator, has used the software to run real-time analytics and profile customers.

The luxury sector has lagged behind mainstream retail in taking advantage of the growth of online, but Burberry bucked this trend. Wan has pinpointed ecommerce as a key area of development and Harvey Nichols has grown its ecommerce headcount five-fold in the past year.

Cartwright’s expertise could help Harvey Nichols realise its online ambitions and give it a point of difference in the upmarket department store sector.

At Harvey Nichols, her challenges are not as pronounced as those she faced when she moved to a battered Burberry. Harvey Nichols’ sales have steadily grown for the past four years although pre-tax profit dipped from £14.4m to £12.8m in its year ended March 2013.

However, there are areas for Cartwright to exploit. Wan has also highlighted international expansion and the development of an own-label offer as priorities and it seems like Cartwright believes that is the right way to go.

“I’m not planning some great revolutionary change - I think the path that has been set is the right one,” she told Retail Week’s sister magazine Drapers last week. “My style is very much to involve the team and to take soundings from everybody as to what they see as a key priority.”

Although she does not start until February 17, she plans to use the next month to go “under the radar” at the Knightsbridge flagship and head office to meet as many employees as possible.

Cartwright could be the person to make Harvey Nichols’ burgeoning overseas presence - it has eight international stores - meaningful and perhaps, one day, rival that of Burberry. Experience shows she’s not afraid of a daunting task.

Career history

2008 to July 2013 Burberry, chief financial officer and executive vice-president

2004 to 2008 Burberry, chief financial officer

1999 to 2003 Egg, chief financial officer

1988 to 1999 Granada, various roles culminating in commercial director, media division