Luxury department store Harrods will shutter its Shanghai outpost, The Residence private membership club and Harrods Tea Rooms, in January 2026. The closure follows the decision not to renew the lease at the Taikoo Hui development, influenced by shifts in China’s luxury landscape and the property owner’s new leasing strategy. Despite the exit, Harrods emphasized that the Chinese market and its clients remain a priority. The Tea Rooms opened in 2021 within the historic Cha House. The Residence, launched in December 2020, was upgraded in 2023 to become Harrods’ first global private members’ club, featuring a bar, lounge, private dining room, and an exclusive restaurant by celebrity chef Gordon Ramsay, with annual membership fees reportedly set at 150,000 RMB ($21,103).