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 tea room and bar, which are open to the public. Members are greeted by guards dressed in the same green uniform as those at the Knightsbridge store, which is owned by Qatar’s sovereign wealth fund.
Dishes at the new restaurant, named Gordon Ramsay at the Residence, include lobster and salmon ravioli, heritage tomato tart, turbot with a champagne caviar sauce, wagyu Rossini with foie gras, and fish and chips. The company said its menu “incorporates local flavours and ingredients while staying true to Gordon Ramsay’s approach to creating modern interpretations of British classics”.
The club also claims it is the only place in China serving Louis XIII Rare Cask 42.1 cognac, which costs £47,000 a bottle. It describes the drink as “a true wonder of time and nature, [which] offers the ultimate expression of Louis XIII and will perfectly match in this common quest for the extraordinary”.
“Membership is a unique proposition in Shanghai,” the Harrods managing director, Michael Ward, said when he announced plans for the club earlier in the year. “[It will offer] not only world-class dining and spirits with a like-minded network but also unlocks exclusive Harrods international lifestyle and concierge services to create unparalleled experiences for every member.
“Online shopping was simply not enough; our Chinese clients love the greater Harrods experience and therefore it was our desire to bring this to China in an innovative way. We want to have a base to be able to maintain that relationship as we have really great customers in China.”
Chinese customers accounted for 16% of Harrods’ sales last year. Profits at Harrods almost tripled last year to £158.4m from £55.5m the previous year. Sales increased 52% to £994m in the year to 28 January, according to accounts filed at Companies House.
The group, which was bought by Qatar Holding in 2010 for an estimated £1.5bn, did not pay out a dividend to its owners as it repaid more than £220m of loans and financial leases.
