Harrods is set to open its first store in China in 2020 amid growing customer demand.

The luxury department store in China will be the retailers first stand-alone site outside of the UK and will be located in Pudong, a district in Shanghai according to The Telegraph.

Harrods managing director Michael Ward told The Telegraph after 10 years of investing in China it has “responded to customer demands for a more permanent presence”.

“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.

“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,” he said.

The new store in China – called The Residence – will only be open to high-end private shoppers and will also feature a bar and tea room.

A spokesperson for Harrods said: “Private shopping clients have consistently asked for a more permanent presence.”

 

 

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