Harrods sold for £1.5 billion

Posted by Miss B On May - 9 - 2010

Mohammed Al Fayed has sold the iconic British department store Harrods to Qatar’s royal family for a staggering £1.5 billion. It is rumoured that Al Fayed has been secretly been trying to sell Harrods, whose portfolio includes numerous properties in Knightsbridge and Brompton and a private jet company, for over a year but is also sad to see it go.

“At 77, Old Father Time has caught up with Mohammed,” a friend of the Egyptian said. “Despite his great energy, he feels it is appropriate to hand over the reins. It makes more money per square foot than any other store in the world and attracts 15 million customers a year. That is quite some legacy for the son of a primary school teacher.”

Al Fayed bought the stuffy store back in 1985 when it was a royal favourite and its clientele was from a ‘certain’ background. He transformed it with his own ostentatious and flamboyant style and while not everyone likes what the store now represents, there is no denying he changed it into an internationally renowned and desired brand worldwide.

[picture credits: Anosmia / Jennifer Boyer]
Miss B

Miss B

Miss B is a Belle About Town who likes to bring a little bit of style into every aspect of her life. An experienced journalist with over a decade in the industry she turned to the web to fill a gap for tech-savvy stylish women who want the best life has to offer at their fingertips. She loves a decadent cocktail bar, a beautifully cut dress, the perfect pair of heels, quality over quantity and is partial to Asian-fusion food, enjoys holidaying in the sun and shopping breaks to New York. But her first love is of course London!

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