Although perhaps lacking the same volume of recognizable brands of other countries with a stronger presence in the global retail space, such as America or Italy, several key British brands have come to be associated with quality, craftsmanship, and a deep sense of heritage.
In fact, despite not being a particularly strong contender in the global brand space, Britain is home to some of the oldest brands in the world. According to one recent report, British brands are, on average, over 30 years older than their global counterparts.
These brands have used their rich heritage and historic legacy to generate strong emotional connections with their existing and future customers. This is due to their focus on the importance of provenance, heritage, and a sense of history.
Regardless of the answer to what is GDP looking like over the years, these British heritage brands have managed to weather all kinds of economic storms. This has included both deep economic recessions, as well as World Wars which put a stop to the normal functioning of the global economy.
But how have these three British luxury brand institutions managed to survive centuries of economic ups and downs?
Harrods
Out of the many historic shopping centers found around the world, there are arguably few with quite the same reputation that Harrods has.
Harrods is London’s most famous department store and is located on Brompton Road in Knightsbridge — one of the city’s most exclusive areas.
It was established in 1834 by Charles Harrod, although it wasn’t until 1849 that it was opened in its current location. The Harrods store suffered significant fire damage in 1883 but was rebuilt on an even grander scale shortly afterward.
While it remained in family hands for much of its history, it was bought by the extravagantly rich Egyptian Mohamed Al Fayed in 1985, before being sold to Qatar Holdings in 2010.
Harrods is known around the world for its extravagant decor and incredibly luxurious exterior.
For this reason alone, tourists from around the globe travel in droves to the store each year just to catch a glimpse of it. This association with a uniquely luxurious aesthetic has helped it to weather numerous economic downturns over the century and a half it has managed to stay open!
Liberty
Another one of London’s historic department stores that have managed to survive well over a century is Liberty of London or, as it is more commonly known, ‘Liberty’.
Liberty is a luxury department store in London, that is located on Great Marlborough Street in the West End of London. It is arguably most well-known for its stunning mock-Tudor storefront, which makes you feel as if you have stepped back in time as soon as you enter the building!
Liberty has a particular reputation for supporting young, up-and-coming designers at the start of their careers. It played an important role in popularizing the ‘modern style’ that emerged from the mid-1880s onward. Many well-known brands got their start in the store.
This approach of supporting young, cutting-edge designers has helped Liberty to maintain its relevance in the fast-moving world of fashion. Despite its historic exterior which harkens back to the Tudor days, this gorgeous store is anything but stuck in the past!
Fortnum & Mason
Although Harrods and Liberty have managed to stay open for an incredible 174 and 148 years, respectively, this pales in comparison to the even more historic Fortnum & Mason.
Fortnum & Mason is an upmarket, luxury department store located in the historic district of Piccadilly, with additional stores spread throughout the city. It was founded in 1707 by William Fortnum and Hugh Mason, which makes it a staggering 316 years old!
While it was originally founded as a general grocery store, Fortnum & Mason’s reputation was built by supplying the highest quality food possible at the time. This helped it to grow significantly during the Victorian era.
Over time, Fortnum & Mason diversified, with a particular specialty for all things exotic or hard to obtain. This was in addition to a variety of ‘basic’ provisions which were of the highest possible quality. It also became well-known for its tea selection, which is now sold around the world.
Despite its age, Fortnum & Mason has continued to flourish throughout its three centuries of history. This has been helped, in part, by its close association with the Royal family — another of Britain’s most important ‘heritage brands’.
This association with a distinctly British sense of luxury and heritage has helped the historic department store to continue to thrive, even in the age of eCommerce!