Skip Nav
Victoria Beckham
Victoria Beckham Gets — Dare We Say It — Psychedelic For Fall '16
Street Style
Catch Up on All of NYFW's Best Street Style
Christian Siriano
We Bet We'll Be Seeing These Christian Siriano Looks All Over the Red Carpet

After 25 Years, Mohamed Al Fayed Sells Harrods for $2.2 Billion

>> Despite saying just last month that he planned to own London institution Harrods for the rest of his life — and when he died he hoped to be entombed in a mausoleum on the store's roof — Mohamed Al Fayed ended his 25-year reign of the store over the weekend by selling to Qatar Holding for an estimated 1.5 billion pounds (approx. $2.22 billion).

Al Fayed had no obvious successor — none of his four living children are involved in the day-to-day operations at Harrods — and his banker, who brokered the deal, said that 81-year-old Al Fayed had decided to retire and spend more time with his children and grandchildren.

Under Qatar Holding, Al Fayed will assume the new title of honorary chairman, and a source close to the new owners told WWD there would be “no lurches in strategy. This is a financial transaction.” The store is also said to have an exclusive on Tom Ford's womenswear when it launches.

Around The Web
Beyonce's Best Outfits
Tom Ford Patent Finish Lip Color
Kendall Jenner's Sexiest Outfits of 2015
Drake Tom Ford Lipstick

POPSUGAR, the #1 independent media and technology company for women. Where more than 75 million women go for original, inspirational content that feeds their passions and interests.

Join The Conversation
Latest Fashion
X