Harrods sold for $2.2 billion to Qatar Holding

"Qatar Holding was specifically chosen by (Qatar) Trust as they had both the vision and financial capacity to support the long term successful growth of Harrods," Costa said. "Of paramount importance to Mohamed Al Fayed was to ensure that the Harrods staff would find in QH an owner who would be supportive of their efforts to maintain the traditions of Harrods."

I have to give Mohamed Al Fayed a big round of applause for selling Harrods to Qatar Holding. He has truly transformed the old Harrods which is a crumpling office into a flamboyant shopping mall with a myriad of products from all over the world. The mall per se has become an oasis of colour and charm that is recognised by the world today.


It is an icon. Not just any other shopping malls, it is historical. Another apposite word is venerable. Harrods has been the shopping mall that everyone goes to, it's a commodity that everyone needs.


To transfer the ownership of such a huge powerhouse, it is not just about the money, it is about passing on the history, and more importantly the culture that has been sustained for so long, since the 1840s.


I admire the fact that Qatar Holdings was not just chosen for its financial capacity for if it is so, there would have definitely been many other potential bidders.

Conversely, it has been chosen on the faith that Qatar will maintain the traditions of Harrods. To me, that is super important.


You just can't buy culture, it's innate, borned since the day the company was created. It has to be sustained for it is what made the company so successful. It's the distinguishing factor that seperates the company from the rest of the corporations out there.


The employees have been submerging themselves in the culture for so long and many of them understood the way things operate in the company. They have a sense of belonging and a sense of faith in it as well. To take that away from them, will definitely affect not just their efficiency but also their mental well-being.

They will feel hurt, lost and misplaced.


Of course, I'm not saying that there should not be any changes. Operational-wise, it is imperative that the company continue to seek the most innovative ways and policies to surprise the consumers and the workers as well. However, when it comes to the culture, it must stay.


Well done, Mohamed Al Fayed. You have left behind a legacy.


Truly impressed.





Credits -marketwatch, -wikivisual, -scrapetv, -toddstrong