Harrods has opened a private members’ club in Shanghai that offers 250 super-rich people exclusive access to Gordon Ramsay’s first restaurant in China, a bar stocked with rare Scotch whiskies, and the Knightsbridge department store’s own-brand private jets. The retailer opened the private club, which charges minimum annual fees of 150,000 yuan (£16,500), as part of its drive to connect more with wealthy Chinese people as spending by its traditional customer base stagnates. The club, called the Residence, is located inside Shanghai’s historic Cha House where Harrods already operates a…
Tag: Luxury goods sector
Rush for bags and scarves helps Burberry offset China Covid slump
Burberry offset a plunge in Chinese sales of more than a fifth amid Covid disruption, thanks to the return of tourists to Europe who snapped up bags, scarves and trenchcoats in the run-up to Christmas. The British luxury goods firm reported a 1% increase in global sales in the three months to the end of December, below its 2% target and sharply down compared with the 11% growth reported in the previous quarter. Burberry sales plunged 23% year on year in mainland China because of Covid lockdowns followed by a…