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| Mohammed Al Fayed, in front of a Diana statue inside Harrods |
London, May 8: Harrod’s, the “top people’s store” in London’s Knightsbridge, has been sold by its colourful Egyptian-born owner, Mohammed Al Fayed, to the Qatari royal family for a reported Pound1.5billion, it was announced today.
Harrods has long been a favourite with visiting Indian ministers, especially those staying a few minutes’ away in the Indian High Commissioner’s residence in Kensington Palace Gardens.
After they have got out long lists scribbled by their wives, relatives and friends back in India, ministers can often be spotted wandering happily through the spacious wonderland of Harrods stocked with the best in everything from perfumes, designer clothes, suits, shoes, jewellery, electronic gadgets, chocolate counters, fashionable dark glasses and various items of luxury indispensable for the effective functioning of democracy in India. The distinctive Harrods green bag is a “must have”.
Harrods is not just a store – it is a brand name that sells brand names, a destination in itself. For Londoners, there are bargains to be had in the new year and July sales, and the food hall, with its excellent choice of fresh fish or the best cuts of meat, richly deserves its high reputation.
In 2006, Reliance sold mangoes to Harrods for Rs40 per kg. This was marked up by Harrods and retailed, mainly to Indians, for Rs2,400 per dozen.
Some visitors like to be photographed in front of the altar installed in the basement by Fayed in memory of a lost son. Dodi Fayed, as the world knows, died in a car tragedy in a Paris tunnel in August 1997. Princess Diana, who was in the rear seat, died, too.
It remains to be seen whether the new owners will wish to keep or modify the Pharoah-like memorial which some find a trifle sepulchral. The more marketing minded reckon it pulls in potential buyers into the store.
There is also a statue to Diana inside Harrods.
Fayed accused the royal family, headed by Prince Philip, and MI5, British intelligence, of bumping off Diana and Dodi because they allegedly did not want the mother of the future King of England to marry a Muslim. The establishment has reacted by ensuring that Fayed, who is Egyptian born, never gets a British passport and by removing the royal warrants on the outside of the store. Fayed has deliberately kept the space blank.
There is nothing that Fayed likes better than a fight. He had a long battle with another captain of industry, the late “Tiny” Rowland of the mining group, Lonhro, before he completed his takeover of Harrods back in 1985. After 25 years, Fayed may feel he has had enough.
Selling Harrods, which epitomises old England, is a little like selling Rolls-Royce – though Rolls-Royce is now owned by the Germans, the old enemy with whom England has waged two world wars.
Ken Costa, chairman of Lazard International which advised the al Fayed family on the sale, said today: “After 25 years as chairman of Harrods, Mohamed al Fayed has decided to retire and to spend more time with his children and grandchildren. He has built Harrods into a unique luxury brand with worldwide recognition.”
Costa added: “In reaching the decision to retire, he wished to ensure that the legacy and traditions that he has built up in Harrods would be continued, and that the team that he has built up would be encouraged to develop the foundations that he has laid. Qatar Holding (QH) will become only the fifth owner of Harrods since its creation, in 1840.”
Fayed himself said last month: “People approach us from Kuwait, Saudi Arabia, Qatar. Fair enough, but I put two fingers up to them all. It is not for sale. This is not Marks & Spencer or Sainsbury. It is a special place that gives people pleasure. There is only one Mecca.”
Fayed will be reassured that Indian ministers, at least, will maintain the hallowed traditions of Harrods – shop till their electors drop.