Australian luxury retailer Harrolds has made a return to operations this week, eight months after the business fell into liquidation, owing $16 million.
Harrolds’ intellectual property has been acquired by a new ownership team, who are set to re-grow the 40-year-old brand’s presence in Australia, which includes retargeting the business with a sole luxury menswear offering – a step-change from its original mixed gender offering.
Three new managing directors have also been appointed, two of whom have been working with the luxury retailer for more than a decade, including Zia Khorram, Gino Pagano, and Arasch Enayat. Pagano is a former state manager at Harrolds, being in the role since 2006, with Enayat being a retail store manager since 2010.
The new directors have also onboarded Guillaume Lacroux as store manager, who is set to manage the retailer's return to Westfield Sydney with an 800 square metre flagship store. The location will include marble finishes, ambient lighting, and custom-designed furnishings.
The luxury retailer will offer a selection of curated menswear labels, including Brioni, Stefano Ricci, Lardini, Isaia, Rick Owens, and Thom Browne, alongside new additions such as Maison Margiela, Jil Sander, Amiri, Balmain, and others.
“Without Harrolds in the market, Sydney has been missing an essential destination store for men who love luxury fashion,” Pagano said. “Harrolds has always stood for excellence, innovation, and individuality, we will maintain that legacy and add a fresh new energy of our own.”
Enayat said they were very fortunate to have acquired the brand name from the original owners, that being the Poulakis family. The Harrolds business was founded by John and Mary Poulakis in 1985. Their son, Ross Poulakis, was most recently the managing director, with the parents still involved in a director capacity.
“We have also attracted back many of the front-line sales team, so Harrolds customers will recognise many familiar faces when they visit the store,” Enayat said.
The new owners have no ownership links or management ties with the original business.