Harrods to open in Shanghai

British department store Harrods will open its first stand-alone site in China by the middle of next year.

The China store, to be put up in Shanghai’s Pudong district, will target China’s growing middle class.

“If you look at all of the reports, they say, quite categorically that all of the growth in the next five years is going to come from Southeast Asia. And is going to come from millennials,” said Harrods MD Michael Ward.

“So we’ve got to go after that. It’s very important that you follow the money.”

Harrods has been making investments in China for a decade, hosting events and opening pop-up stores.

Ward said they see continued growth in China and had seen a need to be a more permanent resident there.

Comments

Comment Manually

Inside Retail Polls

What were the biggest challenges during the 2019 holiday period?
Vote

Twitter

Aussie retailers need to diversify their revenue streams, or risk becoming one of the many brands announcing store… https://t.co/DCKX3A1MXT

22 hours ago

The Iconic is offering customers pre-paid postage labels to send old clothes in good condition to charity, rather t… https://t.co/49zjMkOGOH

1 day ago

After Kaufland's shock exit from the Australian market, the question on everyone's lips is why? Here's what indust… https://t.co/MpDbXargpD

1 day ago