Harrods ups wine prices to offset Budget

25 June, 2008

Iconic department store Harrods has increased prices on lower range wines by up to £1 as it too looks to swallow the fallout from

this year’s Budget.

Prices on several Harrods wines under £10 have risen between 50p to £1, according to Jonathan Rogers, head of sales development in wine and spirits.

The move shows how growing pressure on supply chain margins, from duty rises to energy bills, is affecting retailers across the spectrum.

Rogers said: “It’s not true that as a high-end retailer we have been unaffected. At the lower end of the market some wines have gone up by £1.” He added that Harrods’ more expensive ranges, some selling for thousands of pounds, were better insulated.

Last week, outgoing Majestic chief executive Tim How predicted economic pressure would push wine prices up 10 per cent over the next year.

He said wines in the £6-7 range may rise more steeply, possibly by up to £1.

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