Department Stores

Harrods to Get New Owner

Qatar Holding buying landmark store from Al-Fayed

Published

14 years ago

May 10, 2010

VMSD Staff

Mohamed al-Fayed is selling the London luxury department store Harrods to Qatar Holding, according to The New York Times.

Al-Fayed, who purchased the Harrods store in 1985, has agreed to sell the retail landmark in London’s Knightsbridge district for roughly $2 billion.

“It’s a privilege for us to acquire Harrods, a unique company that combines an iconic luxury brand and one of the most prestigious retail properties in the world with best-in-class financial metrics,” Ahmad al-Sayed, ceo of Qatar Holding, said in a statement. Qatar Holding is a sovereign wealth fund chaired by the country’s prime minister.

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design