Why Harrods Is Doing Better Than Before the Pandemic
Leaders with Francine Lacqua
Bloomberg
4.6 • 64 Ratings
🗓️ 20 April 2023
⏱️ 24 minutes
🧾️ Download transcript
Summary
The luxury industry is booming. Just look at the latest figures from LVMH and Hermes. Or as Harrods Managing Director Michael Ward says in this week’s episode of In the City, observe the foot traffic in his storied London department store. While mid-market labels are feeling the squeeze, super-brands like Chanel and Dior are thriving, Ward explains. “The great thing about the luxury industry is it’s price insensitive,” he says. “The rich get richer, and that’s the world.”
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| 1:04.4 | Hi, I'm Moses. Nice to meet you. How are you doing? Yeah, good. Thank you. Not bad. |
| 1:11.3 | So Moses and I have just entered the luxury accessory part of Harrods. |
| 1:17.4 | And I don't know what to think other than all the Hermes belts, all different colors |
| 1:22.1 | hanging up. |
| 1:23.1 | I know they've been a must-have accessory, all the beautiful handbags, different sizes, different |
| 1:28.8 | makes, different colours. |
| 1:30.3 | Okay, so the high-ticket item for men at the moment seems to be watches. |
| 1:41.6 | So we're now walking through, we're walking past Valenciaaga on our right and Dior on our left. |
| 1:49.0 | Everyone shopping in here looks really happy. |
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