Luxury footwear retailer Harrys of London will expand internationally, focusing on the Middle East, Hong Kong, China and the US, after private investment firm Palladin Consumer Retail Partners acquired a majority stake in the business.
The undisclosed investment will fund the Harrys’ growth, with four stores expected to open in Saudi Arabia, Bahrain, Doha and Riyadh. Harrys of London currently has two stores in Kuwait and one in the Dubai Mall.
The business, which has two stores in Tokyo and Osaka in Japan, will also target Hong Kong and China.
Marty Wikstrom, chairwoman of Harrys of London, told Drapers: “British brands sell extremely well in China so it’s important for a small business like ours to do it properly. We will start in Hong Kong and then look into opening our own stores in China.”
Harrys of London will also open a flagship in New York in 2015.
Kevin Martel, creative director of the retailer, said: “The US is currently our second largest market following the UK. We want to push into more men’s speciality stores as well as opening at least one store on the East Coast next year.”
Harrys of London currently has 51 doors in the US, including Brooks Brothers, Saks and Bloomingdales.
Wikstrom said the business, which has three London stores in Mayfair, the Burlington Arcade and the Royal Exchange in the City, has the “opportunity to open an additional shop in the capital.”
Harrys of London is stocked by Aquascutum and Harrods in the UK.