Don McCarthy, a highly respected retail industry veteran and philanthropist, has tragically passed away at the age of 63 after bravely battling cancer. Known for his pivotal role in the success of various UK retail chains, McCarthy leaves behind a lasting legacy in the industry.
Prior to his tenure as Executive Chairman at House of Fraser, McCarthy had already made a significant impact in the retail sector. Starting his career at Stead & Simpson at a remarkably young age of 15, McCarthy quickly ascended the ranks and by 17, he was already managing a store. His experience at renowned London retailer Kurt Geiger, where he played a key role in developing the Carvela label, further solidified his expertise in the industry.
In the early 1990s, McCarthy took the bold step of launching his own retailer, Shoe Studio Group (SSG), which saw tremendous success under his leadership. The acquisition of the Principles and Warehouse chains soon followed, leading to the formation of the Rubicon group. McCarthy’s strategic acumen and forward-thinking approach propelled SSG to great heights, establishing him as a prominent figure in the retail landscape.
Following the sale of SSG in 2006, McCarthy embarked on a new venture by acquiring House of Fraser alongside Baugur and West Coast Capital. Despite exploring various options, McCarthy ultimately made the decision to sell control of House of Fraser to the Chinese conglomerate Sanpower in 2014. This move was deemed as the best course of action to secure the chain’s future and ensure continued growth and investment.
A spokesperson for House of Fraser conveyed deep sorrow over McCarthy’s passing, underscoring his unwavering dedication to the industry and his profound philanthropic endeavors. As a generous patron and ambassador of the Retail Trust, McCarthy was known for his mentorship and support of aspiring individuals within the retail realm. His impact on the industry will endure, as his memory lives on in the hearts of those who had the privilege of knowing him.
To learn more about Don McCarthy’s illustrious career and contributions to the retail sector, click here. For insights into the legacy of philanthropy and mentorship left behind by McCarthy, visit this link.
