The Intercontinental Group of Department Stores (IGDS) and the International Association of Department Stores (IADS) have named London shopping temple Selfridges the Best Department Store in the world.

Prestigious contestants including Bloomingdales in the US and Lane Crawford in Hong Kong were left behind when both groups announced the winner during the Global Department Store Summit in New York on June 13.

"We are delighted to have won this very special award and very proud of our teams who have all contributed in making this happen," Paul Kelly, vice-chairman of Selfridges, said. "This is very much in recognition of their hard work. This centenary-old brand [Selfridges first opened in 1909] built on the most extraordinary heritage, confirms that Selfridges is the most relevant and exciting department store today."

According to the IGDS - the largest association of department stores worldwide - the store, which has branches in Oxford Street, Birmingham and Manchester, won thanks to its "prestigious profile, its product and store innovation strategies, in-store experience, customer service and financial performance."