Michael ward, managing director, harrods
Teasing the fashion retail world earlier this year with plans to leave Harrods, Michael Ward has decided to stay on indefinitely to help the business deal with the changes to the UK economy and make plans to ensure it continues to deliver growth.
Appointed managing director in 2006, Ward once again raised the stakes at the department store this year. Turnover rose 2.5% to £788.9m for the year to 30 January and profit after tax jumped 16.9% to £129.7m.
Over the summer, realising the children’s and men’s wear sectors were heating up, Harrods launched a kidswear shopping concept called Mini Fashion Lab and focused intently on the men’s department. A revamped and expanded men’s socks, underwear and nightwear section was launched, as well as a personal shopping service across its men’s and lifestyle departments.
It all forms part of a £20m investment, which includes the refurbishment of Harrods’ grand entrance hall.
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