Harrods Courts China’s Top 1 Percent With Private Club — Retail Bum

Harrods, the renowned London department store, is set to launch an exclusive members club in Shanghai, marking its first venture of this kind outside its home market.

The opening of the exclusive club comes as part of the company’s effort to revitalize sales amidst a broader slowdown in consumption by capitalizing on the unwavering demand from ultra-wealthy Chinese individuals.

Dubbed “The Residence,” the upcoming club is scheduled to debut by the year’s end on the second floor of Cha House, an iconic heritage building in the heart of Shanghai. The building already houses a Harrods tea room and bar that is accessible to the general public. Adding to its allure, the club will feature the inaugural Chinese establishment of British celebrity chef Gordon Ramsay. Membership fee for The Residence is expected to commence at 150,000 yuan ($21,000) per year, and it will initially be made available to just 250 individuals.

In addition to the privileges offered at The Residence, members will have the exclusive opportunity to acquire rare and exceptional bottles of alcohol through Harrods’ collaboration with Scottish whisky company Edrington Group. Furthermore, members will get access to Harrods’ global concierge services.