UK Department Store Harrods Opens Stores To Deal With Inventory Backlog

British luxury department store Harrods announced that it will open its first Oteri J store, Harrods Outlet, at Westfield shopping center in London in July this year.

The opening of OLE store is intended to deal with goods in spring. Affected by the epidemic, these commodities have been hoarding in their flagship stores in the past few months, and the flagship store, which is to be reopened in June 15th, will also display the latest summer products.

Harrods general manager Michael Ward said in a statement: "in our new world, enterprises need to re examine their current business models and operation conditions, change their thinking ways to promote growth, while ensuring the safety of customers and employees."

"Our current focus is to return the knight bridge flagship store to the best condition, serve our customers, support the brand partners, and bring new and exciting experiences to the customers who enter the shop," Michael Ward added. "Harrods Outlet enables us to promote retail business responsibly through a larger area, ensuring better social distance, being decisive and confident.

At Knights' flagship store, Harrods will use footstep monitoring technology to limit flow to ensure that customers can maintain safe social distance. In addition, special entries and exits will be specified. Harrods closed its stores in March as the outbreak broke out in Britain.

　　 The outbreak of new coronavirus virus broke out around the world. Shops closed down and consumers segregated at home, making retailers facing similar problems in Harrods. Many retailers chose online discount and inventory. Products sold by Harrods Outlet will also be sold online.

In the past, many brands / retailers rely on TJ Maxx, TK Maxx and other discount retailers to sell surplus stock, but the latter's stores are still closed, and brands / retailers have to find new outlets.

Simeon Siegel, managing director of BMO Capital Markets, said: "(the current situation) forces brands to temporarily put price factors aside and try to cash cash in the short term. In the near future, every retailer will try every means to solve this problem. "

Earlier, in order to greet the reopening of stores, Harrods provides personal long distance shopping services for "top (prized)" customers. Starting in May 18th, staff at Knights' Inn in London will receive orders from VIP customers via phone and smart phone messages.