What: Harrods partners with Visa to launch co-branded credit cards in Qatar and Kuwait, extending its rewards programme to GCC customers through a seven-year strategic agreement.

Why it is important: This strategic move capitalizes on the GCC's growing luxury market potential, where a young, affluent population presents significant opportunities for premium retail expansion, while strengthening Harrods' international presence through innovative financial partnerships.

Harrods has entered into an exclusive seven-year strategic partnership with Visa to launch co-branded credit cards for customers in Qatar and Kuwait. The initiative, implemented through partnerships with Qatar National Bank and National Bank of Kuwait, marks the first extension of Harrods' co-brand credit card programme into the GCC region. The programme enables cardholders to earn Harrods Rewards points on everyday purchases both locally and internationally, while also providing exclusive in-store benefits and access to special cardmember events. Michael Ward, Harrods' Managing Director, emphasises this development as a key milestone in the company's international growth strategy, designed to strengthen connections with valued GCC customers. The programme aims to deliver an enhanced rewards experience that aligns with Harrods' reputation for excellence and personal service, with plans for future expansion to bring the Harrods experience closer to customers worldwide.

IADS Notes: This strategic expansion comes at a time of significant momentum for Harrods, which recently reported an 8% increase in turnover to £898.4 million. The move aligns with broader regional opportunities in the GCC luxury market, where retailers are adapting to serve a young, affluent population. The credit card programme complements Harrods' digital transformation initiatives, including its recent partnership to enhance operations across 200 international markets, creating a comprehensive approach to serving global luxury consumers.

Harrods launches co-branded credit card with Visa to extend rewards to GCC shoppers