Harrods in talks to open Shanghai store

Shanghai London-based luxury department store retailer Harrods is said to be considering opening a store in Shanghai according to a Friday report by China Daily.

The paper said that Harrods is holding talks with the Shanghai municipal government on the opening of its first store outside the United Kingdom in the historic Bund area of Shanghai.

The proposed venture in China was initiated by managing director Michael Ward, according to the report. The plans, however, have yet to be confirmed.

Harrods was acquired on May 8 by Qatar Holdings for 1.5 billion pounds from Egyptian billionaire Mohammed al-Fayed.