Iconic luxury department store Harrods to open its first outlet location in a bid to shift excess stock that has built up in its store during the lockdown
Barry Lewis/InPictures via Getty ImagesThe company said that the new location, which is opening in Westfield shopping center in Shepherd's Bush in July, will be devoted to selling this season's stock that has been trapped in its flagship store during the lockdown.
"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," Harrods managing director Michael Ward said in a statement to the press. "Harrods Outlet allows us to enable better social distancing across a larger footprint, move towards the new season decisively and confidently, and retail in a responsible way."
Historically, many retailers would rely on selling leftover inventory to off-price players such as TJ Maxx, as it is known in the US, or TK Maxx in the UK, but as these stores have also remained closed this avenue has dried up.
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