{"id":178356,"date":"2025-10-07T17:52:21","date_gmt":"2025-10-07T15:52:21","guid":{"rendered":"https:\/\/luxus-plus.com\/?p=178356"},"modified":"2025-11-13T16:10:31","modified_gmt":"2025-11-13T15:10:31","slug":"harrods-pays-the-price-for-the-abuses-of-the-late-mohamed-al-fayed","status":"publish","type":"post","link":"https:\/\/luxus-plus.com\/en\/harrods-pays-the-price-for-the-abuses-of-the-late-mohamed-al-fayed\/","title":{"rendered":"Harrods pays the price for the abuses of the late Mohamed Al Fayed"},"content":{"rendered":"

The owner of the famous London department store’s turnover held up fairly well during the 2024-25 financial year. However, the group posted a loss, weighed down by exceptional expenses, including a compensation program for employees who were victims of abuse by the previous owner, Mohamed Al Fayed, who died in 2023.<\/h4>\n

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It was a mixed year for Harrods.<\/b><\/p>\n

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Although the owner of the iconic London store saw a slight increase in turnover<\/b> during the 2024-25 financial year, which ended at the end of February, exceptional costs pushed it into the red.<\/b><\/p>\n

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In addition to its famous Knightsbridge store<\/b>, the Harrods group’s activities include, notably, online sales, the H beauty brand<\/b>, concessions at London’s two airports, the luxury real estate agency Harrods Estates<\/b>, and operations in China.<\/p>\n

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A certain resilience<\/h2>\n

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On the bright side, the British group has managed to withstand the downturn in the luxury<\/b> market, even though its business has been slightly less dynamic than last year. But while its gross transaction value (GTV), excluding VAT, fell by 2.4% (compared with a 6.6% increase in the previous financial year) to \u00a32.198 billion, Harrods Group Limited’s revenue<\/b> still grew by 0.6%<\/b> (versus +8.2% in 2024-25) to around \u00a31.08 billion, which is below the UK inflation rate.<\/p>\n

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