Harrod's Talks to Chicago

Rumors are swirling out of Chicago that executives of Harrod's department store (London) are meeting with Chicago politicians in preparation — perhaps — for a new Harrod's somewhere in The Loop. One rumor even involves more than one meeting between Harrod's Holdings chairman Mohamed Al-Fayed and Chicago mayor Richard Daley.

What is confirmed is a meeting in December between Chicago planning commissioner Alicia Berg and Harrods representatives. The Harrods folks were given a tour of a long-vacant block on State Street, said The Chicago Tribune, and concepts for a 200,000-300,000-square-foot department store and possible hotel and residential development were bandied about. Both sides, said The Tribune, “departed pleased with themselves and promising to stay in touch.”

Harrod's has only one full-size department store currently, the million-square-foot palace that has stood majestically on Brompton Road in London's Knightsbridge since 1849. The reported plan would involve a store one-fifth the size.

Local analysts are dubious that the plan has legs. “The cachet and magic of the store is impossible to duplicate anywhere but Knightsbridge,” The Tribune quoted a Chicago real estate executive as saying. “I don't think it would work in Los Angeles, Boston or anywhere on the planet except where it is.” Also, notes The Trib, pre-tax profits at Harrods'Knightsbridge store plummeted 48 percent in 2000. And profits fell 82 percent for Harrods Holdings, which includes some Harrods airport stores around the world.

Harrod's in Knightsbridge has seven floors and some 300 departments (including the famous Food Hall), about 20 restaurants, a beauty salon and a bank. On an average day, 100,000 shoppers browse the store. During sales days, as many as 350,000 shoppers may appear.