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
Follow MO Luxury's Facebook page for more luxury news...