Harrods crosses for the first time the borders of the United Kingdom and arrives in China. The British luxury retailer will soon open its first permanent store in Asia, in Shanghai, in the Pudong district. The store, called The Residence, in addition to the traditional sales format for high-spending customers, could also include areas for private events. “If we look at all the sector reports – says Michael Ward, managing director of Harrods – the growth in the next five years will depend on Southeast Asia and will be headed by the Millennials. We have to adapt to this. It is very important to follow wealth. ” Over the past decade, Harrods has overseen the Chinese market with temporary events and pop-ups. The opening of The Residence goes in the direction of a stronger and more direct presence. The announcement of the opening comes six years after the arrival of the Galeries Lafayette department store in Beijing.