// Harrods to open store in China next year
// Harrods MD Michael Ward said the company has been investing in China for a decade
Harrods is set to open its first store in China in a bid to serve the country’s surging middle class.
The luxury department store’s first standalone site outside the UK will open next year and will be located in Shanghai’s Pudong.
Harrods managing director Michael Ward said the company has been investing in China for a decade and has responded to customer demands for a more permanent presence, The Telegraph reported.
“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 south-east Asia. And is going to come from millennials,” Ward said.
“So we’ve got to go after that. It’s very important that you follow the money.
“We see continued growth of China, but we see a need to be a more permanent resident in China.”
The site will be limited to high-end private shoppers who will also have access to a bar and tea room on site and events hosted by luxury brands throughout the year.