A Harrods spokesman said: 'Mr Mulcahy has attended meetings with the senior management team at Harrods. We are unable to confirm the nature of the discussions at this time.'
However, the talks are likely to spark speculation that Harrods owner Mohamed al Fayed is eyeing potential acquisitions to bolt on to the store or is planning to float the landmark Knightsbridge business.
Any involvement with Harrods would mark a return to retail for Mulcahy, who left Kingfisher in 2002. Mulcahy played down the significance of the talks and said: 'I've had a couple of conversations about working on a couple of things. I've known them for some time.'
Harrods is reportedly considering concessions in China, a market that Mulcahy has great experience of. One source wondered whether Mulcahy might be interested in bidding for Harrods. However, others believe that scenario to be unlikely.