Harrods has broken through the £1bn sales barrier after a sparkling Christmas.

The iconic department store reached the record figure for the year to the end of January after tourists hit the shop in the run up to Christmas.

Harrods managing director Michael Ward said: “Reaching £1bn sales makes today one of the most significant in the store’s history.”

At the height of the January Sales period, Harrods reportedly took £20,000 a minute.

Ward plans a dramatic expansion of the Knightsbridge store’s beauty business, a key footfall driver, over the next 12 months.

Harrods was bought by the Qatari royal family’s sovereign wealth fund Qatar Holding in May for £1.5bn.