Is Harrods Opening In NY?

Harrods could soon have a location in New York, the chairman of the company's executive board, Ahmad Al-Sayed, has revealed - as the company looks to open a long-mooted Harrods hotel. The famous London store is eyeing potential locations in the Big Apple as well as "other prime cities" - but stressed that the landmark Knightsbridge store would not be replicated overseas.

"Everything is for discussion, and we are studying different ways of expansion," he said, adding that Heathrow Terminal Two's new standalone Harrods watch store will "recreate the opulence" if not completely echo the celebrated Knightsbridge site.

Harrods Hits NYC?

Since Qatar Holding, a global investment house founded by the Qatar Investment Authority, bought Harrods in 2010, the firm has invested £250 million, WWD reports, and Al-Sayed says the company doesn't intend to stop there.

"I invest in retail, I invest in commodities, I invest in infrastructure - I invest in different kinds of [businesses]," said Al-Sayed of the investment vehicle, which is also the principal shareholder of supermarket Sainsbury's. "We are like fund managers: When we decide on our investment, we check what suits our portfolio and then we make a decision."