Iconic department store Harrods is reportedly in talks with Shanghai’s municipal government about opening a store in the Chinese city.
The London department store, which was acquired by investment vehicle Qatar Holdings for £1.5bn in May, is thought to be interested in opening a store in one of the buildings in the Bund area that previously housed a British bank, according to Chinese newspaper China Daily.
The newspaper said locations were limited because few buildings were big enough to house a department store and added that if plans did go ahead it could take a long time for a lease agreement to be worked out.
Harrods is not the only retailer interested in Shanghai. Marks & Spencer opened its second store in the city last month and is seeking a location for a third outlet.
A Harrods spokeswoman said: “[Harrods managing director] Michael Ward has cited China as a probable country to internationalise the business. However, no plans have been confirmed to open a store in Shanghai.”