Iconic department store Harrods is poised to undergo a £200 million revamp, making it the biggest such revamp in its 183-year history.
Speaking to the South China Morning Post, managing director Michael Ward said the scheme is part of the retailer’s three-year plan.
The revamp had already began with the recent opening of the first stage of the redevelopment of the Grade II-listed Food Halls, and will continue with the opening of the expanded Fine Watch Room in spring 2018.
Further investments through to 2020 will include the dedication of an entire floor to menswear and sports, an evolution of the home department, and a large-scale expansion and investment in the Beauty Hall, which will encompass space across two floors of the store.
Ward said the revamp is aimed at maintaining Harrods’ appeal for tourists.
“Our Chinese and Asian customers are extremely important to Harrods, and so are considered part of our redevelopment plans,” he told the Post.
The news comes a month after the London institution recorded its eighth consecutive year of soaring profits, which included smashing the £2 billion sales mark for the first time.
Its financial performance was boosted by tourists – especially from China – flocking to the store to take advantage of prices since the sterling took a battering after the Brexit vote.