Managing Director, Harrods
It has been another big year for Michael Ward, as Harrods continues its ambitious “re-imagining” of its Knightsbridge flagship. In June it opened a 90,000 sq ft beauty emporium, followed in November by the latest phase of its redesigned menswear department, which houses brands such as Moncler, Givenchy and Off-White.
Most recently, Harrods announced the launch of a standalone beauty fascia called H Beauty, which will debut in Intu Lakeside in Essex in April.
The retailer faces competition from Selfridges, Harvey Nichols and rising luxury player Flannels. Nonetheless, turnover inched up to £868.6m for the year to 2 February, from £862.5m in 2017/18. However, operating profit fell to £202m, from £218.4m the year before, as Harrods invested heavily in stores.
In the wider arena, Ward has spoken up for the fashion industry this year, calling for reform of business rates and criticising the negative impact of Brexit on the luxury fashion sector.
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