All Harrods articles – Page 2
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Prospect AnalysisHarrods (Strategy)
Harrods has sought to add products and brands to the portfolio on a regular basis to inject interest and keep the offer fresh. The mix includes an increasing proportion of younger, high-fashion labels. Harrods launched its new global ecommerce platform in February 2020 in partnership with Farfetch.
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Prospect Analysis
Harrods (Overview)
Harrods is known for its world-famous department store with an exceptional and high-quality product range, catered to an upmarket and international clientele.
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Prospect Analysis
Harrods (People)
Michael Ward is Harrods’ long-serving managing director. The retailer named Tim Parker as its new group CFO in May 2022.
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Prospect Analysis
Harrods (SWOT)
Working with online specialist Farfetch to launch its new global ecommerce platform from 2020, the partnership gives Harrods the stability and scalability to grow its online offer.
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Prospect Analysis
Stores at Harrods
Harrods’ Knightsbridge flagship has recently undergone a £200m three-year investment project, including the creation of more luxury departments, shop-in-shop formats, and the introduction of additional prestigious brands. Keeping pace with trends, Harrods launched a standalone beauty and wellness venture, H Beauty, in 2020, with five stores now trading.
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Prospect Analysis
Harrods (Financials)
While Harrods swung back into the black in the year to end-January 2022 (FY2021), margins remained subdued by previous standards, with net sales still running a third below pre-pandemic levels.
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Prospect Analysis
Ecommerce at Harrods
Harrods has partnered with Farfetch on the development of a new global website which was launched at the beginning of 2020.
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Prospect People
Daniel Sirett
Head of IT service management, infrastructure and operations at Harrods
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Prospect Analysis
Customer and marketing at Harrods
As a heritage British brand, Harrods has been benefiting from heightened consumer interest in this area, and the extensive third-party brand range includes an increasing proportion of younger, high-fashion labels to cater for a lowered target age range. Looking to drive further demand from Asian customers, Harrods is localising signage and product labelling and investing more in Chinese social media including WeChat and Weibo.
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Prospect Analysis
Supply chain at Harrods
Harrods’ supply chain strategy has been overhauled to support multichannel growth, with an aim to consistently deliver the best possible experience for its customers digitally and physically.
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Gallery
Store gallery: Harrods opens Chocolate Hall as Knightsbridge revamp continues
Harrods has opened a new Chocolate Hall as it concludes the restoration of its iconic food halls.
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Prospect Analysis
Harrods (Outlook)
It will clearly be important for Harrods to continue to hone its multichannel credentials and digital involvement as it pushes ahead with its drive to draw in younger customers as so much of the innovation in the luxury sector is now being digitally led.
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Gallery
In pictures: New stores that brought the wow factor in lockdown year
2020 may be more synonymous with shuttered stores but it did bring us some eye-catching new shops. Retail Week rounds up some of the best to whet your appetite
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News
Harrods lockdown closure prompts credit renegotiation
Department store Harrods has renegotiated the covenants of a £200m syndicated loan following the latest Covid-19 lockdown.
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Analysis
How Next and Harrods are reinventing the beauty hall
Department store giants Next and Harrods have opened new beauty formats over the past month. Why launch a beauty store in the middle of a pandemic – when face masks are mandatory in many places – and can they shake up the industry?
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Gallery
In pictures: Harrods unveils H Beauty hall concept
Harrods has opened its first standalone beauty concept, H Beauty, at Intu Lakeside in Essex.
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Gallery
In pictures: Harrods’ new concept Outlet store at Westfield London
To help clear excess stock that could not be sold due to the coronavirus pandemic, Harrods has launched its first outlet store in Westfield London.
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News
Harrods to launch outlet store at Westfield London
Harrods is to open an outlet store at Westfield London to help it shift excess seasonal stock that has gone unsold during the coronavirus crisis.
