The iconic Harrods department store has new owners. For a staggering $1.91 billion, Mohammed Al Fayed sold his most famous investment to the Qatari royal family.
The Harrods brand name is attached to more than just the Knightsbridge store – Harrods also operates smaller stores at airports, and on the QE2 cruise liner and provides luxury air charter service through Air Harrods.
Despite being rather kitchsy and pricey, a trip to Harrods is a real must visit on any first trip to London. The store is immense, and the food department alone is enough to entertain you for hours.
The Qatari royal family made the purchase through their investment arm, Qatar holding, which is a fully owned affiliate of Qatar petroleum. Al Fayed purchased Harrods in 1985, and was only the fourth owner. He has invested millions in the store, adding improvements like his stunning Egyptian escalator. In 2005 he unveiled a statue of his son Dodi and Princess Diana who died in a car crash in 1997.
(Image from: CARL DE SOUZA/AFP/Getty Images)