Hermes opens 3 new stores in 2017, while it closes 4 stores

Hermès is restructuring its retail network internationally in 2017, closing down 2 boutiques in France in the towns of Avignon and Rouen. Hermes also closed down its store in Charlotte, North Carolina as well as its concession dedicated to watches and jewellery at Harrods in London.

At the time of publication of its annual results on March 22, the group counted 315 stores in its worldwide network, of which 33 were in France. At the time, CEO Axel Dumas emphasised that the number of stores had hovered around 315 for five or six years. And so, for 2017 and 2018, 3 new openings have been forecast per year.

“We’ve gone ahead with the closing of small airport concessions. We prefer to focus on department stores. We have to go where the customers lead us. When I open a sales point, it’s for the local consumers and not for tourists,” he declared.

During the second quarter of 2017 Hermès will opens new stores in Istanbul, Sao Paulo (Iguatemi) and in Changsha, capital of Hunan province in central China. A market about which the label is bullish, planning one opening per year. “Until now, China was a very masculine market. Now, women’s fashion is catching up. And Chinese customers have changed – they’re not keen on logos any more and we’ve benefited from that,” Dumas explained in March.

“What is interesting is the speed with which the Chinese have turned towards those with specialist know-how, as well as their ability to make purchases across all trades. Their  body of knowledge has grown at a phenomenal speed and the client base is younger and younger,” he beamed of the Chinese consumer upturn. Even if their purchases, he noted, “are no longer at the level we were familiar with in the past.”

Hermes Spring Summer 2017 ad campaign