Michael Ward - 16 November 2016

Michael Ward, Managing Director of Harrods, delivered a Bristol Distinguished Address Series lecture entitled "Why luxury is relevant to the UK economy and the barriers faced by developing companies?".

Why luxury is relevant to the UK economy and the barriers faced by developing companies

Michael Ward, Managing Director of Harrods, delivered a lecture entitled "Why luxury is relevant to the UK economy and the barriers faced by developing companies.”

Michael gave a highly engaging speech on the luxury goods industry, explaining that Harrods is focused on a very specific 0.1% of the market as their customer base.

He described how the luxury goods market helps to put back into the UK economy by creating wealth through supporting creativity and craftmanship.

He also talked about how, as president of Walpole, the organisation helps to mentor businesses giving them the skills to survive and promoting the unique qualities of UK luxury. Michael explained that taking quality for granted and not investing in creativity can lead to loss for luxury brands.

Michael summarised by confirming the need for education, craftmanship and support from the government for luxury goods to create wealth and support the economy.