Harrods Buenos Aires opened in 1912 as the only overseas branch of the legendary London department store. The building, completed in 1914 on the corner of Córdoba Avenue and San Martín Street, occupied almost an entire city block with 47,000 m² of floor space across eight stories. It was a landmark of Argentine retail: marble steps, cedar flooring, wrought-iron elevators, a jazz orchestra, and valet service.
The store survived the 1930s depression, Perón-era import restrictions, and the 1970s economic turmoil. But the 1989 currency crisis forced the closure of the upper floors, and the 1990s brought a new problem: Mohamed Al-Fayed, who had bought Harrods London in 1985, disputed the licensing arrangement that allowed the Buenos Aires store to use the Harrods name. The store was already struggling with debt, and without the license it had no legal basis to continue.
In 1998, Harrods Buenos Aires closed its doors. The building remained empty for years, with periodic partial restorations for cultural events. A 2010 plan to reopen as a luxury mall by 2013 never materialised. In 2019, a US$60 million plan to convert the building into co-working and co-living spaces was announced but has not been completed.
The local operator lost the license to use the Harrods name when the London owner changed, leaving the 47,000 m² store with no legal basis to trade.
The 1989 Argentine currency crisis gutted the store's economics — upper floors closed and the business never fully recovered.
The purchase of Harrods London put in place an owner who disputed the licence letting the Buenos Aires store use the name — a fight the local operator had no way to win
The store was owned by a local holding company (Almacenes Argentinos) with no leverage against the London parent — when the license was revoked, the business had no name to trade under.
Decades of deferred investment and family ownership left the store without the capital to reposition itself as a modern luxury retailer.
An international brand license is not an asset you own — it is an asset you rent. When the owner changes, the rent can be called due at any time, no matter how long you have been paying it.
The building was partially restored in 2003 for cultural events and tango festivals. A 2010 plan to reopen as a luxury mall by 2013 was abandoned. In 2019, a US$60 million plan to convert the building into co-working and co-living spaces was announced. As of 2026, the building still stands as a landmark of Buenos Aires, its future uncertain.
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