London's Selfridges named 2014 Luxury Retailer of the Year
Followed by runner-up Saks Fifth Avenue
Based on "luxury marketing efforts with impeccable strategy, tactics, creative, executive and results," according to the publication, Luxury Retailer of the Year was awarded to Selfridges this year.
American department store Saks Fifth Avenue was awarded the runner-up spot on this year's list, followed by Net-a-Porter.
This year, Selfridges had a record-breaking year of sales, with its gross sales in 2013 rising 10.4 percent year-over-year to $1.9 billion. Its operating profit was also saw an increase of 12.3 percent, making $240 million operating profit. In addition, according to Luxury Daily, Selfridges was the most trafficked premium online store in the U.K. for 2014, with one million visits per week.