When the landlord is the brand: Inside Harrods' £2.25 billion model

£24,000 per square metre. 18% operating margin. One building. One UK tax change cost it £80-90 million. 💷Maya and Selvane examine the landlord-brand model that made Harrods one of the world's most productive retailers—and the pressures now testing it. Seventy percent runs on concession economics. Freehold ownership eliminates rent risk. But customer concentration (4% = 28% of revenue), QIA dividend extraction, and Grade II* building constraints tell a different story🔗 Click here to read the full Harrods Exclusive by Selvane!Stay connected: LinkedIn · Substack · www.iads.org This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit iads.substack.com/subscribe