Five women say they were raped by former Harrods owner Mohamed Al Fayed when they worked at the London department store, while more than 20 claim they were sexually assaulted by the late billionaire, the BBC reported.

Al Fayed, a native of Egypt who died last year at the age of 94, took over the luxury department store in 1985 and kept it until 2010. During that span, he preyed on female employees he found attractive, promoting them from sales floors to work in his offices, the BBC reported, citing former staff.

The assaults would take place in Harrods’ offices, in Fayed’s London apartment, or on foreign trips — often in Paris at the Ritz hotel, which he also owned, or his nearby Villa Windsor property, the BBC said.

Al Fayed’s victims and former employees described a pervasive climate of fear at Harrods, and said his predations were known among the staff. Rather than intervene, Harrods helped cover up abuse allegations, according to the BBC.

Harrods, now owned by the Qatar Investment Authority, is “utterly appalled by the allegations” against Al Fayed, it said in a statement. “We also acknowledge that during this time as a business we failed our employees who were his victims and for this we sincerely apologise.”

Harrods said it has been settling historic claims of abuse by Al Fayed in the quickest way possible, “while ensuring that such behaviour can never be repeated in the future.” Unlike during Al Fayed’s era, women are not being asked to sign non-disclosure agreements by current ownership.

Al Fayed is perhaps best known outside Britain because of his son, Dodi, who died in a car crash with Diana, Princess of Wales, in 1997.

By Frank Connelly and Jennifer Creery

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Harrods Bounces Back After Pandemic Hit as Big Spenders Return to London

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Luxury brands are expanding their presence in the flagship Hong Kong mall of the K11 Group, as the high-end real estate arm of billionaire Henry Cheng’s New World Development Co. bets on a rebound in the city’s premium retail sector to help ease property-market woes.

The expansion at K11 Musea in Hong Kong’s prime shopping hub Tsim Sha Tsui includes store upgrades by labels such as LVMH’s Loewe and Kering SA’s Saint Laurent and Balenciaga, as well as a new store by Prada SpA, the group said in a statement to Bloomberg News.

Other brands planning a revamp of their stores include Italian fashion house Brunello Cucinelli SpA, Cie Financiere Richemont SA’s Van Cleef & Arpels, and Swiss watchmaker Audemars Piguet Holding SA. Collectively, the upgrades will double the footprint of the seven luxury labels in the mall to more than 30,000 square feet, K11 said.

The statement confirms an earlier Bloomberg report about Prada’s new store at K11 Musea.

The K11 mall’s luxury pivot offers one of the first clues to New World’s turnaround plans after the developer, which has been grappling with higher debt levels than its peers, issued a warning last month of an expected loss of up to HK$20 billion ($2.6 billion) for the financial year ended in June.

A significant part of the decline reflects slumping property values as Hong Kong struggles with one of its worst real estate market routs due to high interest rates and a broader economic slowdown.

Major landlords in the financial hub are pinning their hopes on luxury giants and their appeal to high-net worth customers who are among the least affected by the downturn. Global brands, many of which downsized in Hong Kong during its Covid-19 isolation, are also re-evaluating the city, lured by rents in the core shopping districts that have plunged as much as 90 percent from the pre-pandemic levels.

“We are excited that many leading luxury brands are expanding at K11 Musea, especially in the context of current Hong Kong retail sector,” said Richard Cheung, executive vice president of the K11 Group, in the statement.

The K11 brand malls have been a key growth driver for New World’s investment property sector. In the six months ended December, Musea recorded a 41 percent increase in sales from the year before, mainly driven by luxury spending, beauty care and cultural activities, according to New World’s financial report.

The brand, launched by New World chief executive officer — and Henry’s eldest son — Adrian Cheng, leans heavily into arts and culture elements for its properties. Musea is peppered with artwork displays and has hosted several high-profile events in recent months, including Louis Vuitton’s first ever fashion show in Hong Kong last year and an exhibition this summer of beloved Japanese cartoon character Doraemon.

The month-long exhibition contributed to a 40 percent rise in average tourist spending at Musea, with foot traffic up 30 percent during the opening weekend, New World said in a newsletter in July.

By Shirley Zhao

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On Thursday, the British Fashion Council (BFC) announced that CEO Caroline Rush will step down from her position from June 2025, ending a 16-year run.

The search for her successor will begin immediately, led by management consultancy Egon Zehnder. In the meantime, Rush will continue to lead the organisation.

The executive joined the BFC in 2009, moving into the CEO role from the PR firm she founded. During her tenure, the council’s revenue has more than doubled. But Rush has also navigated significant challenges, including Brexit, the Covid pandemic and the luxury downturn.

BFC chair David Pemsel praised Rush’s “dynamic and agile” leadership whilst “navigating some of the most challenging times for the industry.” Pemsel will extend his term as chair to the end of 2025 and lead the search for Rush’s successor.

Rush is responsible for pioneering numerous initiatives, such as the BFC Foundation, born out of two charities she launched. Since 2020, the Foundation has donated £4.3 million ($5.7 million) to support designers and their businesses.

“After 15 years in service to the industry, I am ready for a new challenge. Having built the organisation’s resources back to better than pre-pandemic levels, it is in a great position to continue its essential and incredibly important work with new leadership and a new chapter,” Rush said in a statement.

Next has said international tastes in fashion are “converging” as tech platforms expose consumers to international trends, boosting the retailer’s overseas sales and helping it close in on £1 billion in annual profits for the first time.

The fashion and homeware retailer forecast its annual profits at £15 million more than previously expected, at £995 million — up from the £918 million recorded in 2023 — after overseas sales rose by 23 percent in the six months to July, offsetting a near 1 percent decline in sales of Next-branded clothing in the UK.

The company said that the “global reach” of tech platforms including Netflix, YouTube and TikTok were “exposing people to international fashion trends in a way they never have been before”, and improving international delivery networks were also encouraging “consumers to try clothes from other countries, and retailers to adapt their ranges that cater for overseas tastes”.

“It appears that international tastes in clothing are converging more rapidly. This convergence is not uniform and is more pronounced in some territories than others,” the retailer said, adding that there remains a “marked difference between different cultures and climates”.

Simon Wolfson, the chief executive of Next, said the business was “at the start of a new phase” with more than half of its sales and profits now online and rapid growth in sales of non-Next brands, some of which the group now owns.

Non-Next brands now account for 17 percent of overseas sales and the group said it had been experimenting with expanding wholly owned labels including Cath Kidston, after it bought the brand name out of administration last year, and Love & Roses.

The group has signed a partnership deal in India with the local operator Myntra to develop online and retail stores and will expand a deal with the US department store chain Nordstrom, where it is now selling childrenswear, and also expects to find similar partners in Japan, China and Australia.

Next also plans to improve the way it works with shipment hubs in the Middle East and Europe to help better serve shoppers in those territories.

The plans were announced as Next revealed that full-price sales rose by 4.4 percent in the six-month period, boosting total group sales by 8 percent and pre-tax profit by 7.2 percent to £452 million.

Next said that full price sales over the six weeks after that period had “materially exceeded our expectations” and were up by 6.9 percent as better weather helped boost trade.

Sales in the second half of the year are now expected to rise by 3.7 percent, up from 2.5 percent.

If Next were to hit £1 billion of profits for the first time, it would join only a handful of UK retailers that have done so, including Tesco — and Marks & Spencer in a previous era. The upgrade to its profit expectations lifted Next’s shares by 5.5 percent to an all-time high of £109.10 in early trading.

By Sarah Butler

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Next Raises Guidance as British Retailer’s Sales Soar Abroad

The company’s increased its pre-tax profit forecast for the year to $1.3 billion.