Shanghai, the first international location for HARRODS
British iconic luxury department store HARRODS has announced it is considering opening a new store in Shanghai, China. The iconic British department store is weighing up various new locations but has described China as "the most probable".
"There are other areas of the world where we could operate profitably," said Michael Ward, Harrods’ ceo. "China is the most probable but we would have to do a lot of work first." The number of Chinese visitors is up 125 per cent this year, with an average spend of triple that of a US customer. Mohammed Al Fayed sold his emporium in May to the Qatari royal family for £1.5 billion. Al Fayed motivated the sale of Harrods because pension fund trustees stopped him taking a dividend from the business he’ owned for 26 years