Monday 12 July 2010

Harrods Sets To Expand Into China - 12/07/10

Harrods are looking at expansion options, and they have their eyes set firmly on the Chinese market in Shanghai. After the success they have experienced with their niche market in Britain, the retail giant are looking to replicate this in Shanghai by “selling must-haves for the oligarch class from £80,000 crocodile Hermès Birkin bags to £3,000 children's pedal cars.”

We know that the number one leisure sport of the Chinese is shopping, and with a recent increase in Chinese billionaires, Harrods has realised the importance of cashing in on this market. With the number of Chinese shoppers to Harrods increasing by 125% this year, it is obvious why shanghai is under the spotlight for expansion. Managing director Michael Ward has stated of the destination choice, “China is the most probable, but we would have to do a lot of work first.”

Image source: vogue.co.uk

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Posted by MO at 6:00 am
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Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au