In a sign of the Coronavirus (COVID-19) effects on the fashion retail industry, Harrods is now set to opening a second outlet in July to deal with stock overhang. The upmarket British department store will be holding its annual summer sale with the temporary outlet at its new Shepherd’s Bush concept store.
The two floors of the Westfield shopping center will be where Harrods looks to shift an unprecedented amount of inventory that has been compiled during the three months of forced closure. With 80,000 sq ft, the space will be set up with social-distancing measures and hold a majority of stock from the existing season built up during the lockdown. The announcement of the temporary outlet comes as Harrods struggles to save its brand equity ahead of the plans to officially re-open come June 15.
According to reports, the move is simply because of capacity, as new social-distancing measures at its Grade II Knightsbridge location built in the 1880s offers limited flexibility with the expected crowds. Harrods’ managing director Michael Ward noted, “In the new world in which we find ourselves, the economy needs businesses willing to look at its business model and current operations and think differently to enable growth, while protecting its customers and employees.”
Look for Harrods summer sale to take place at its temporary outlet in July.
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Like many luxury retailers, #Harrods is grappling with a serious problem: how to shift the unprecedented volume of excess inventory that has piled up after almost three months of forced closure without damaging its brand equity. The solution? Harrods Outlet, a new pop-up store at London’s Westfield White City shopping mall that the retailer will use to house this year’s Harrods summer sale. #Shopping malls are losing tenants as the Covid-19 pandemic takes its toll on the #retail sector, and the Harrods outlet will take the place of a recently shuttered Debenhams. It’s an unusual move for a store like Harrods, which is known for catering to the wealthy and has shied away from expanding its retail footprint beyond its iconic Knightsbridge flagship, save for a handful of airport concessions selling tourist merch. But faced with large amounts of unsold product and the likelihood of continued social distancing measures, the department store had to get creative, said Managing Director Michael Ward. Continue the read on businessoffashion.com [Link in bio] ?: @shutterstock
A post shared by The Business of Fashion (@bof) on May 28, 2020 at 2:44am PDT
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