Harrods, the epitome of luxury, has introduced an unparalleled members-only experience in the heart of Shanghai.
The Residence, a private members’ club located within the historic Cha House, extends an invitation to 250 discerning individuals, offering exclusive access to Gordon Ramsay’s debut restaurant in China, an opulent bar featuring rare Scotch whiskies, and the privilege of boarding Harrods’ signature private jets.
In response to evolving consumer dynamics, Harrods is spearheading a strategic initiative to further engage with the affluent Chinese demographic. The Residence, requiring a minimum annual commitment of 150,000 yuan (£16,500), emerges as a testament to Harrods’ commitment to creating meaningful connections with its clientele amid stagnating spending from its traditional customer base.
Nestled in Shanghai’s iconic Cha House, where Harrods already operates a public tea room and bar, The Residence welcomes its members with the distinctive green-uniformed guards, reminiscent of the prestigious Knightsbridge store, under the ownership of Qatar’s sovereign wealth fund. Gastronomic delights await members at the exclusive Gordon Ramsay at the Residence restaurant, featuring a menu that seamlessly blends local flavors and ingredients with Gordon Ramsay’s innovative take on modern interpretations of British classics.
The club proudly boasts its exclusive offering of Louis XIII Rare Cask 42.1 cognac, a true marvel of time and nature priced at £47,000 per bottle. Described as “a true wonder,” this cognac is a testament to the common quest for the extraordinary shared by The Residence’s discerning members.
Harrods Managing Director, Michael Ward, emphasised the unique proposition that membership at The Residence presents in Shanghai. Beyond world-class dining and spirits, members gain access to a like-minded network and unlock Harrods’ international lifestyle and concierge services, crafting unparalleled experiences for each esteemed member.
Ward remarked, “Online shopping was simply not enough; our Chinese clients crave the complete Harrods experience. Therefore, it was our ambition to bring this to China in an innovative way. We aim to establish a base to foster and enhance these relationships with our esteemed Chinese customers.”
In 2022, Chinese customers contributed to 16% of Harrods’ sales, propelling the company’s profits to nearly triple, reaching £158.4 million. The robust financial performance saw a 52% surge in sales to £994 million for the year ending January 28, as reported by Companies House. Despite this success, Harrods opted to reinvest in the business, channeling funds into loan repayments and financial leases rather than paying dividends to its Qatari owners.
The Residence Club emerges as a testament to Harrods’ unwavering commitment to delivering an unparalleled luxury experience, solidifying its position as a global icon in the world of high-end retail and lifestyle.
