How Luxury Department Store Harrods Built A Booming Restaurant Business

Dining is not the first thing that comes to mind when consumers think of Harrods—despite its retail Food Halls being internationally famous. As one of the world’s top destinations for luxury, showcasing over 3,000 brands, the department store in Knightsbridge, London maintains a high-fashion image based on exclusivity and tailored service.

Even the retailer’s website is shy about the 26-strong restaurant and bar offer—you have to hunt around at the bottom to find the details. Yet eating and drinking in-store has blossomed to the extent that towards the end of last year it was trading 44% higher than it was pre-Covid, and transaction values were also 47% up on 2019. More widely, Harrods turned a profit again in the last financial year for which figures are available.

The latest addition to the roster of dining venues—which features fêted names like Jason Atherton, Vineet Bhatia, Tom Kerridge, Angelo Musa, Gordon Ramsay, and Em Sherif—arrived at the end of 2022. Studio Frantzén, brought another Michelin-starred chef to the store, this time from Sweden.

Björn Frantzén’s à la carte restaurant, with a signature Asian-influenced take on Nordic cuisine, is literally the pinnacle of Harrod’s dining experiences because it is found at the very top of the department store’s building on two floors, plus an outdoor terrace. The latter is claimed to be the only rooftop terrace in Knightsbridge and Mayfair, two of London’s most desirable districts. As well as being a choice for foodies, the 150-seat Studio Frantzén is open late and has a buzzy vibe with two bars, one of which offers sweeping views.

Data-led gains

So what is the attraction of having so many eating and drinking spots in the store? I had the chance to catch up with Harrods’ director of restaurants and kitchens, Ashley Saxton, to find out how food and beverage (F&B) is fast becoming a revenue driver and a cornerstone of the business.

“Our research has found that when customers engage with our restaurants they also engage more often with the store. They spend twice as long in the building and spend twice as much money,” he said.

That insight alone has given Saxton quite a bit of freedom

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Department Of Finance

Ministry of FinanceThe Ministry of Finance plays a key function in establishing, implementing and reviewing government’s financial, fiscal, financial management and taxation insurance policies. The 2018 – 2021 Medium Time period Debt Administration Strategy (MTDS) is the second to be published because the implementation of the Public Financial Management Law in 2017. I am certain there are various youthful Singaporeans who depend upon the funds to get by. It’s a shame that the ‘influencers’ utilized by MOF aren’t an excellent illustration of what younger Singaporeans would need from a authorities initiative.

Growing the federal government’s tax coverage and programs, collecting taxes and different revenues and managing the funding of public monies. The Ministry of Finance is accountable for planning and implementing the Norwegian economic policy and for coordinating the work with the Fiscal Budget.

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Environment friendly and effective tax administration is prime to the lengthy-term financing of a functioning society, poverty … Read more