You’ve probably seen the green bags everywhere from the London Underground to airport terminals in Dubai. Harrods is more than a store. It is a 4.5-acre monument to excess, history, and the kind of luxury that feels like it belongs in a different century. But when people ask who owns Harrods now, the answer isn’t just a name on a lease—it’s a massive geopolitical statement.
Honestly, for a long time, the name Harrods was inseparable from Mohamed Al Fayed. He was the larger-than-life Egyptian billionaire who put his own golden statues in the store and basically lived for the headlines. But that era ended over a decade ago.
Today, the keys to the kingdom belong to the Qatar Investment Authority (QIA).
They bought the place in May 2010 for a staggering £1.5 billion. It was a deal that moved the store from the hands of a single, controversial family into the portfolio of a sovereign wealth fund. We aren't just talking about a group of rich investors here; we are talking about the state of Qatar.
The Qatari Era: Why Who Owns Harrods Now Matters
When Qatar Holding (the investment arm of the QIA) stepped in, people were worried. Would they turn it into a mall? Would they ruin the heritage?
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It turns out, they did the opposite. They’ve poured hundreds of millions into renovations. You’ve got the revamped Food Halls, which are honestly breathtaking, and a digital transformation that’s dragging the 19th-century brand into the future.
But it hasn't all been smooth sailing lately. As of early 2026, the ownership is navigating some pretty heavy waters. The most recent financial filings for the year ending February 2025 showed a pre-tax loss of about £34.3 million. That sounds bad, but it’s mostly because of "exceptional costs."
The Redress Scheme and the Al Fayed Shadow
The QIA is currently cleaning up a mess they didn't create.
In March 2025, Harrods launched a formal Redress Scheme. This was a response to horrific allegations of historic abuse linked to the former owner, Mohamed Al Fayed. By the end of last year, over 100 survivors had entered the process. Harrods has set aside more than £60 million to handle these compensation claims.
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The current management, led by Managing Director Michael Ward, is trying to distance the brand from its past while paying for its sins. It's a weird spot to be in—owning a brand that is globally loved but having to account for the actions of a guy who sold it to you 15 years ago.
Who Really Runs the Show?
While the QIA owns the equity, the faces in the boardroom are the ones making the calls on which designer gets a pop-up and whether the Christmas lights are bright enough.
- Michael Ward: He’s been the Managing Director since 2005. He survived the transition from Al Fayed to the Qataris and is basically the architect of the modern Harrods.
- Mohammed Saif Al-Sowaidi: Appointed as a director in early 2025, he represents the Qatari interests directly.
- Mathew Powers: Often cited as the CEO of the broader group, handling the macro strategy.
It's a mix of British retail expertise and Qatari capital. This combination is why Harrods still feels like "Harrods" even though the profits are flowing to Doha.
A Timeline of the Keys Changing Hands
Harrods didn't start as a palace. It started as a grocer's shop in 1834. It's had a few "parents" over the years:
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- Charles Henry Harrod (1849–1889): The founder. He started with tea and groceries. His son, Charles Digby Harrod, turned it into a real department store after it literally burnt to the ground in 1883.
- The Public Era (1889–1959): It became a limited company. This is when the Burbidge family ran things and built the iconic Edwardian facade we see today.
- House of Fraser (1959–1985): A massive retail group bought it. This was a corporate era, maybe the least "glamorous" in terms of personality.
- The Al Fayed Years (1985–2010): Mohamed Al Fayed and his brother Ali bought House of Fraser just to get Harrods. They eventually took the company private and split Harrods off as its own thing.
- Qatar Investment Authority (2010–Present): The current owners.
What's Next for the Knightsbridge Giant?
The global luxury market is cooling down. Even the super-rich are feeling the pinch, or at least they’re being more selective. Harrods has seen turnover hover around the £1 billion mark recently, which is "stable" but not exactly explosive.
They are betting big on two things: H Beauty and International expansion.
You’ve probably seen the "H Beauty" stores popping up in places like Edinburgh and Bristol. That’s a move to capture the luxury market outside of London. They’re also looking at China, which remains the holy grail for luxury brands despite economic wobbles.
If you’re wondering what this means for your next shopping trip, it basically means more investment in the physical experience. The Qataris know that people don't go to Harrods just to buy a shirt; they go for the "theatre" of it. Expect more renovated restaurants and high-tech fitting rooms.
Actionable Insights for the Curious
- Check the provenance: If you're interested in the business side, keep an eye on the Harrods Redress Scheme updates through 2026. It's a landmark case in how modern owners handle legacy liability.
- Visit the "H Beauty" locations: If you can't make it to London, these standalone stores are the best way to see the current ownership's vision for the brand's future.
- Watch the QIA's other moves: The Qatar Investment Authority doesn't just own Harrods. They have stakes in Sainsbury's, the London Stock Exchange, and even Volkswagen. Their health is a good barometer for the store's stability.
Harrods is a survivor. It survived the Blitz, it survived fires, and it’s currently surviving a massive shift in how the world shops. Whether you love the opulence or find it a bit much, the Qatari ownership has ensured that the "monument" on Brompton Road isn't going anywhere.
Monitor the UK's Companies House filings for Harrods Limited if you want to see the literal signatures on the board documents. It's all public record.