Harrods is known for its world-famous department store with a luxury product range, catering to upmarket and international clientele. The retailer also has airport shops in the UK, as well as its flagship London store and a store in China. The business was sold in 2010 for a reported £1.5bn to Qatar Holding, the sovereign wealth fund of the Qatari royal family. Retail Week provides news, analysis, features and opinion about Harrods and the department stores sector.
Harrods has teamed up with London-based charity Traid as part of its efforts to reduce waste and prolong the life of unsold products.
More than 180 survivors of abuse from ex-Harrods owner Mohammed Al Fayed are currently “engaged” in the luxury department store’s compensation scheme.
Some retailers are facing increases of hundreds of thousands of pounds in their business rates on certain properties, while Harrods’ bill is set to fall by over £1m
‘Tis the season when many retailers get creative with their windows to help ensure the tills ring merrily over the Christmas period.
Harrods has allocated more than £60m in compensation via a redress scheme for the alleged victims of historical abuse.
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