The high life: Harrods moves even further up in the world

Mohamed al-Fayed, the Egyptian entrepreneur, is to take his Harrods brand even further upmarket when the store joins The Luxury Network later this month. For £50,000 a year, premium brands, including yachtmaker Sunseeker and alcohol group Moët Hennessy, become part of an elite group which swaps marketing ideas and business links.

The network has 57 members in the UK, although there are other groups in Dubai, Milan and Beverly Hills.

Kevin Rose, founding partner of The Luxury Network, said: "The recession has helped the network; being part of a group like this gives directors an opportunity to put together alliances behind closed doors, before they launch [marketing campaigns] to the public."