Harrods sold for 1.5 billion pounds
08.05.2010
Harrods has been sold for the fourth time
making Qatar Holdings the fifth owner of this prestigious departmental store. The seller Mohammed al-Fayed reportedly has sealed the deal at
US dollar 2.3 billion, as he contemplates to spend rest of his life time with his family, especially the grand children.
Fayed bought this iconic store in the year 1985 for 615 million dollars. Since then, Harrods has conquered the peak of business and is doing extremely well currently.
Qatar Holdings is the investment arm of Qatar’s Sovereign Wealth Fund, which is controlled by the Qatari royal family.
In the sale, other group businesses such as Harrods Estate, Air Harrods, and others too have gone to the Qatar Holdings, the report stated.
Qatar (1) -- Analyses -- 2010
About Harrods and Al Fayed
08.05.2010
Al Fayed is an Egyptian born national of UK, and his controversial views about the royal family of Britain raised lots of questions.
His son Dodi had an affair with Princess Diana that all thought would transform into marriage ultimately. It would be appropriate to recall that
Diana was the estranged wife of Prince Charles. The tragic car accident in which Diana and Dodi died together in Paris was not bearable to his father,
which he believes is a case of murder, but he was not vindicated ultimately. His contention was the disapproval of the royal family the intimacy of Diana with Doddy,
hence they were eliminated.
Harrods was opened by Charles Henry Harrod in the year 1834 at London’s East End, and the Knightsbridge shop was taken later to facilitate better business.
The store today is on 18,000 sq.mt area with 90,000 sq.mt of selling space. It has 330 departments. It is the largest departmental store in UK; the second biggest is the Selfridges at Oxford Street, London. On an average Harrods attracts 15 million customers every year.
Bulgarian