Analysis: Why has former House of Fraser chief Nigel Oddy joined The Range?

At the time, Oddy said he was leaving HoF – after less than two years in the role – to “pursue new opportunities”.

However, the relationship between the House of Fraser management team and its Chinese majority shareholder Sanpower – in particular, hands-on boss Yuan Yafei – was understood to be under strain.

So no one would have predicted that Oddy would wind up taking the helm at The Range, working alongside its entrepreneurial and forceful founder Chris Dawson.

HoF and The Range are in many ways wildly different businesses – as Oddy and Dawson’s personalities also appear to be. So how has this retail odd couple ended up together?

What Oddy brings to the table

Oddy, who joined House of Fraser in 2007 from Marks & Spencer, will undoubtedly bring fresh eyes to Dawson’s self-run 137-store empire.

The son of a Royal Navy sailor, Dawson left school without any qualifications and became a market trader.

Once dubbed “Plymouth’s deluxe Del Boy”, Dawson is now worth an estimated £1.75b, according to Retail Week’s Rich List 2016.

A number of industry watchers believe Oddy may now be tasked with tightening up some of the ways The Range has previously been run, plumping the retailer for a potential sale or float.

“Dawson is now gearing up for an exit,” maintains one source familiar with the retailer.

”The Range could float, he could sell to private equity or it could be a trade deal. Oddy’s been brought into professionalise the business.”

“To do that they do need somebody slightly more measured in their leadership team.

“Everything I have heard suggests Dawson basically runs The Range as his own kingdom. There’s not too many systems or processes in place and he is not the most investor-friendly individual.”

The source says that The Range will need to put in a whole host of measures to make the business attractive to a buyer.

“They’ll want to demonstrate investment in systems, perhaps develop a digital offer, and Nigel has a strong background in the nuts and bolts of retail to deliver this,” he adds.

Independent retail analyst Nick Bubb agrees that Oddy might see the role as an opportunity to be the boss of a publicly quoted company.

“Presumably Del Boy was told by the City to beef up his management team before coming to market,” he says.

There has been speculation about a float for some time, and Dawson has been public about his growth ambitions, including expanding into Germany and opening as many as 600 UK stores.

When Oddy’s appointment was unveiled, Dawson said his new right-hand man would help take the business “to the next level”, allowing it to continue with its “planned projects at high speed”.

The Range has opened five new superstores this year and has over 30 more shops planned for this year.

It is also set to open its new 1.2 million sq ft distribution centre in Avonmouth, Bristol, by the summer.

Out of the frying pan, into the fire?

However a number of observers have questioned how the chemistry between the two retailers will work.

“How Oddy is going to work with Dawson and how much power he’ll have in the business will be crucial,” one source says.

Given Oddy’s experience of Sanpower apparently breathing down his neck at HoF, he adds: ”One hopes he’s not jumping from one extreme to the other.”

Despite claiming they will work closely together, it is possible Dawson may be reluctant to fully relinquish control of the business he has cultivated from scratch.

Oddy has been described as a “very well-connected public figure”, while Dawson – unashamedly rough around the edges – has been known to make deals over cocktails in Barbados.

“Oddy has been described as a ’very well-connected public figure’, while Dawson – unashamedly rough around the edges – has been known to make deals over cocktails in Barbados”

However, if they have a common purpose in the company’s exit plans, then the relationship could be harmonious.

“They are two very different personalities but you could see them working together towards a common outcome,” one observer says.

“They’ll need to think about how they engage with advisor and bidders in this process, and that’s why they need more of a statesman.

“Oddy’s role could be more of a chairman than operational.” 

And Bubb warns: “It may work out well, but John Browett at Dunelm could probably tell Nigel Oddy that working with colourful entrepreneurs isn’t easy.” 

But, far from concerned, Oddy is eager to get stuck into his new role.

“I am absolutely delighted to be going to work for the range and to be working with Chris,” Oddy tells Retail Week.

He remains tight-lipped on his plans for The Range, but says: “I’ve met Chris a number of times and he seems to be a great guy. I’m really excited.”

If all goes well perhaps, as in the classic film, there will be a happy ending for this odd couple.