All Harrods articles – Page 2
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NewsHarrods launches Sale ahead of Christmas as Omicron fears mount
Harrods is starting its famous winter Sale early as rocketing Covid case numbers and associated restrictions hit footfall in central London.
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NewsHarrods swings to a loss as pandemic and Brexit take heavy sales toll
Harrods has swung to a loss after store closures during the pandemic and the impact of Brexit slashed sales in half.
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Retail VoiceLuxury consumers are changing – here’s what you need to know
The past 18 months have seen a transformation of behaviour, with buying online increasingly becoming the norm.
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AnalysisThe changing face of beauty: How brands are setting the foundations for success
As the old saying goes ‘beauty is in the eye of the beholder’ and for consumers looking to purchase beauty products today their eyes are more likely than ever to be fixed on a screen.
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Opinion‘Climate change will collide with business as usual – retailers need to act now’
The Covid pandemic may finally be starting to cool down, but attention this week has shifted to another crisis that’s threatening to boil over – climate change.
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NewsHarrods to open H beauty stores in Edinburgh, Bristol and Newcastle
Harrods is set to open three new H beauty stores across the UK following the successful launch of the new format last year.
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Retail Navigator 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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Retail Navigator AnalysisHarrods (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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Retail Navigator 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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Retail Navigator AnalysisHarrods (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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Retail Navigator AnalysisStores 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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Retail Navigator AnalysisTechnology strategy at Harrods
Harrods was slow to embrace digital and multichannel technologies, however developments from the likes of Farfetch, Burberry and Net-a-Porter led to Harrods beginning its own IT transformation programme. The retailer has also proven itself open to technology innovation such as experiential marketing, facial tracking and QR codes.
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Retail Navigator AnalysisHarrods (Financials)
Harrods delivered a stellar set of results for the year ending 28 January 2023 (FY2022) with net sales rising to £914.8m, jumping 42.9% year-on-year. Harrods credited “a strong recovery in trade” with both local and overseas customers returning to store.
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Retail Navigator AnalysisEcommerce 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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Retail Navigator AnalysisCustomer 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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Retail Navigator AnalysisSupply 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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