Harrods Buenos Aires
Encyclopedia
Harrods Buenos Aires is a historic commercial building in Buenos Aires
, Argentina
, formerly a branch of Harrods of London.
as the only overseas branch of the renowned Harrods
of London
, the department store was expanded in 1920, and grew to occupy almost an entire Retiro
-area city block. Following its expansion, the 47,000 m² (500,000 ft²) landmark was crowned by an eight-story cupola overlooking Córdoba Avenue
, and featured marble steps and cedar flooring throughout, as well as wrought-iron elevators with a riding capacity for twenty, valet service, and a jazz orchestra. The store was purchased by competing local retailer Gath y Chaves in 1922, and the two Florida Street institutions were, in turn, acquired by the Italian-Argentine holding company, Almacenes Argentinos, in 1970. These latter owners closed Gath y Chaves in 1974, and in 1977, sold their interest in the remaining store (Harrods) to a consortium led by Pérez Companc
, a prominent local conglomerate. By 1983, the store was controlled by Atilio Gilbertoni, its former general manager under Pérez Companc, and Swiss venture capital firm CBC Interconfianz.
The purchase that year of the flagship Knightsbridge
store by Mohammed Al-Fayed led to conflict after Gilbertoni refused an offer from the Egyptian shipping magnate for the local Harrods license. The ongoing legal struggles and faltering local economy led to the closure of the store's top floors after a 1989 currency crisis. Fayed's lawsuit was ultimately dismissed by the British House of Lords in 1998, and though it continued to receive 80,000 customers a day and average a million US dollars in daily sales, lingering debts then resulted in the historic retailer's closure, at the end of that year. Gilbetoni narrowly avoided its auction, and rejected numerous offers for the ailing store, among them from Chilean retailer Falabella, Madrid's El Corte Inglés
, and Paris' Printemps
, among others.
The interior was partially restored and reopened in 2003 to host periodic art festivals and other cultural events, and among the more notable events hosted at the location were the 10th and 11th Buenos Aires Tango Festival, in 2008 and 2009.
Buenos Aires
Buenos Aires is the capital and largest city of Argentina, and the second-largest metropolitan area in South America, after São Paulo. It is located on the western shore of the estuary of the Río de la Plata, on the southeastern coast of the South American continent...
, Argentina
Argentina
Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
, formerly a branch of Harrods of London.
History
Established in 1914 on 877 Florida StreetFlorida Street
Florida Street is an elegant shopping street in Downtown Buenos Aires, Argentina. A pedestrian street since 1971, some stretches have been pedestrianized since 1913....
as the only overseas branch of the renowned Harrods
Harrods
Harrods is an upmarket department store located in Brompton Road in Brompton, in the Royal Borough of Kensington and Chelsea, London. The Harrods brand also applies to other enterprises undertaken by the Harrods group of companies including Harrods Bank, Harrods Estates, Harrods Aviation and Air...
of London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, the department store was expanded in 1920, and grew to occupy almost an entire Retiro
Retiro, Buenos Aires
Retiro is a barrio in Buenos Aires, Argentina. Located in the northeast end of the city, Retiro is bordered on the south by the Puerto Madero and San Nicolás wards, and on the west by the Recoleta ward.-Urban character:...
-area city block. Following its expansion, the 47,000 m² (500,000 ft²) landmark was crowned by an eight-story cupola overlooking Córdoba Avenue
Córdoba Avenue
Córdoba Avenue is one of the principal thoroughfares in Buenos Aires, Argentina.-History:Mayor Torcuato de Alvear, inspired by the urban redevelopment works in Paris at the hand of Baron Haussmann, drew up master plans for major boulevards, running east to west, every six blocks. During the 1880s,...
, and featured marble steps and cedar flooring throughout, as well as wrought-iron elevators with a riding capacity for twenty, valet service, and a jazz orchestra. The store was purchased by competing local retailer Gath y Chaves in 1922, and the two Florida Street institutions were, in turn, acquired by the Italian-Argentine holding company, Almacenes Argentinos, in 1970. These latter owners closed Gath y Chaves in 1974, and in 1977, sold their interest in the remaining store (Harrods) to a consortium led by Pérez Companc
Perez Companc
Perez Companc could refer to* Gregorio Pérez Companc, Argentine businessman* Luís Pérez Companc, Argentine rally driver* Pablo Pérez Companc, Argentine auto racing driver* Jorge Pérez Companc, co-driver to Argentine rally driver, Juan Pablo Raies...
, a prominent local conglomerate. By 1983, the store was controlled by Atilio Gilbertoni, its former general manager under Pérez Companc, and Swiss venture capital firm CBC Interconfianz.
The purchase that year of the flagship Knightsbridge
Knightsbridge
Knightsbridge is a road which gives its name to an exclusive district lying to the west of central London. The road runs along the south side of Hyde Park, west from Hyde Park Corner, spanning the City of Westminster and the Royal Borough of Kensington and Chelsea...
store by Mohammed Al-Fayed led to conflict after Gilbertoni refused an offer from the Egyptian shipping magnate for the local Harrods license. The ongoing legal struggles and faltering local economy led to the closure of the store's top floors after a 1989 currency crisis. Fayed's lawsuit was ultimately dismissed by the British House of Lords in 1998, and though it continued to receive 80,000 customers a day and average a million US dollars in daily sales, lingering debts then resulted in the historic retailer's closure, at the end of that year. Gilbetoni narrowly avoided its auction, and rejected numerous offers for the ailing store, among them from Chilean retailer Falabella, Madrid's El Corte Inglés
El Corte Inglés
El Corte Inglés S.A. , headquartered in Madrid, is the biggest department store group in Europe and ranks fourth worldwide...
, and Paris' Printemps
Printemps
Printemps is a French department store .The flagship Printemps store is located on Boulevard Haussmann in the IXe arrondissement of Paris along with other well-known department stores like Galeries Lafayette. There are other Printemps stores in Paris and throughout France...
, among others.
The interior was partially restored and reopened in 2003 to host periodic art festivals and other cultural events, and among the more notable events hosted at the location were the 10th and 11th Buenos Aires Tango Festival, in 2008 and 2009.