Harrods, Galeries Lafayette Turn Eyes to Shanghai.

(From SinoCast China Financial Watch)

SHANGHAI, October 27,. 26, SinoCast -- British department store giant Harrods and French department store giant Galeries Lafayette are expected to march into Shanghai, an important retailing segment in China, a source disclosed on October 24. In 2004, the city's department stores reached sales of CNY 47.5 billion with a 5% rise year-on-year, accounting for 19% of the nation's total. Harrods, the most famous department store in the United Kingdom, and Galeries Lafayette, the largest department store in France, is likely to settle in the city's two well-known business streets, the Nanjing Road and the Huaihai Road, respectively. …