Harrods targets Chinese consumers
British department stores cash in on China's growing wealth
London Fashion Week was in full swing last week, but in between the catwalk shows fashion watchers were sneaking off to the city's famous department stores for a little spot of retail therapy.
Chinese visitors were at the centre of this spending spree, cementing the country's place as the new shopping superpower. Today, it is not just fashion designers and luxury brands that have their sights set on Asia's potential - prestigious department stores are eyeing the region, too.
A recent report by the Economist Intelligence Unit indicated that by 2030 there would be 13 million households in China on an average income of US$150,000 per annum.
As well having deep pockets, mainland shoppers are discerning when it comes to spending money and they come well-prepared, knowing what they want to buy and how much it should cost.
If so, there is only one place in the world they will find them all under one roof; a place where they can also pick up special accessories from Vivienne Westwood, Proenza Schouler and evening wear from Ralph Lauren.