Iconic British department store Harrods wants to open its first store outside the UK as early as next year. The chosen location is Shanghai’s Pudong district, where the airport is also located and which is known as the home of wealthy millennials. With this move, Harrods aims to serve China’s emerging middle class and specifically target the spending-minded, quality-conscious millennials.
Harrods has already been investing in China for ten years with events and pop-up stores, but at this time is looking for a more long-term presence in the country as desired by its customers. This was announced by Harrods Managing Director Michael Ward in an interview with the Telegraph last week: “We are seeing continued growth in China, but we see the need for a more permanent location in China.
Accordingly, the Shanghai department store, which is housed in a Japanese-style villa, is aimed at luxury customers. In addition to a bar and a tea room, “The Residence” will offer year-round events by luxury brands.