Hermès to open three new stores in China this year
French luxury house Hermès has recently confirmed its retail expansion plans for China in 2014. The landmark opening of 2014 for Hermès will be a Maison store, fifth in the world, in Shanghai. Other openings in China include Chengdu where Hermès will open a larger store in a new location, and Beijing with a new store, also by the end of 2014.
Axel Dumas, CEO of Hermes said: ”The Chinese buy less gifts due to the anti-corruption laws, but it mainly affects the watchmaking sector and wines and spirit. Moreover, the changing tastes of Chinese go towards more quality and expertise (savoir-faire) and therefore have no effect on our business in this region.”
Future store openings for Hermes in Asia include: Indonesia, Malaysia and South Korea.