When retail mogul Mike Ashley added House of Fraser to his portfolio in 2018, he spoke about converting the chain into the “Harrods of the high street”. And two years later, his vision is starting to take shape.
Aspinal of London may have hailed higher sales in its latest trading year, but those sales didn't bring any benefits to its bottom line and the company made a wider loss in the 12 months to March 2019.
The boss of Harrods said the retailer is “well placed to take advantage of” the younger shopper who wants “to have really great quality beauty” and is upbeat about the chances for the firm’s new beauty chain.
Jewellery is a booming, sought-after sector, as shown by LVMH’s recent bid for Tiffany & Co. FashionNetwork looks into the advantages and potential of an industry still little-known and underexploited by luxury groups.