Harrods aficionados will no longer have to miss the upmarket department store when they travel. Ahmad Al-Sayed, CEO of Harrod’s holder Qatar Investment Authority revealed the Knightsbridge icon would be going international. As a matter of fact, they’d even get to live with their favorite brand as Qatar is also in the process of finding potential sites in “prime cities” for a previously announced Harrods hotel.
”Everything is for discussion, and we are studying different ways of expansion,” continued Al-Sayed. That must’ve stopped a lot of luxe loving breaths for a moment. However, he also added that the grandeur of the classic London building with its green awnings would not be copied anywhere else. “We are like fund managers, when we decide on our investment, we check what suits our portfolio and then we make a decision.”
The decision we’ve heard of so far involves art installations. Harrods’ new chandelier that is the work of American glass artist Dale Chihul and made up of 1,500 light pieces cost them over 1 million pounds ($1.7m). Others would include a 30,000 sq. ft. Fashion Lab, the world’s largest collection of luxury shoes and a new high jewelry space. The Qatar sovereign wealth fund has invested a total of £250m ($412m) into the luxury department store since its acquisition.
[Via – Cpp-Luxury]