Harrods is set to open its first standalone beauty store at the Lakeside shopping centre in Essex, as it looks to take advantage of the downturn in the fortunes of department stores.
The luxury department store has created a new venture, called H Beauty, which will be taking a 23,000 sq ft store in Intu Lakeside, according to The Times.
Harrods currently have a 9.3% share of the UK beauty market, and its London store currently has the biggest beauty hall in the world.
However, managing director of Harrods, Michael Ward said the Lakeside venture would help it take advantage of the issues currently facing the likes of Debenhams, House of Fraser and even John Lewis.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.