Show Me the Galleons: UK “Potter” Stores Generate $26 Million of Revenue
It seems like the Harry Potter merchandise train isn’t slowing down anytime soon. The three Harry Potter stores in the United Kingdom, including the store at King’s Cross station, have generated $26 million (£20.1 million) of revenue across a 15-month period.
According to Forbes, during the period November 2018 to February 2019, the stores based in Heathrow Airport, Gatwick Airport, and King’s Cross station made $500,000 (£400,000) net profit, after accounting for staff and stock costs. For just three stores, this much revenue and profit is a testament to the strength of the Harry Potter brand and is surely helped by the crowds of people passing through each location daily.
The company that owns the three stores, Platform 9 3/4 King’s Cross (a subsidy of Warner Media), has continued to grow its Potter retail empire since opening the first store at King’s Cross station in 2010.
In 2015, the iconic railway station store expanded into an adjacent vacant store, and in 2016, the company opened its first airport store at Heathrow Airport Terminal 5. In 2018, the Heathrow store was expanded and the airport enterprise was added to with a store opening in Gatwick Airport’s North Terminal.
Platform 9 3/4 King’s Cross also manages the retail experience for Harry Potter and the Cursed Child locations across the world. And in summer 2020, the landscape of Wizarding World merchandise is set to change yet again with the opening of the world’s largest Harry Potter store in New York City.