A shopper hold a bag from the high-end department chain, Selfridges & Co Reuters

It's the place where shoppers can get their high street bargains and designer brands all under one roof and now Selfridges has been recognised on the international stage.

The Oxford Street favourite, which has branches in Manchester and Birmingham, has been named the World's Best department Store.

It beat rivals including the New York departmental store Macy's to take the crown for the third time.

According to Selfridges' group managing director Paul Kelly, the retailer continues to go from strength to strength with the help of its ever-popular food hall, growing catalogue of brands and the launch of its new fragrance hall.

"This award is international recognition of the global reach of our brand. Selfridges has gone from strength to strength worldwide, and this prestigious retail award recognises the status of our brand as a successful retail innovator," said Kelly.

"Receiving this distinction for a third term is truly exciting."

Not only has Selfridge made history by becoming the first store to win the prestigious award three times, it will be able to enjoy the title until 2016.

Customer service, strong financial performance and first class in-store experience are just a few of the criteria that Selfridges excelled in.