Unlike other luxury brands that have expanded rapidly in China, French luxury house Hermès has been deliberate and conservative with its China expansion. This strategy has helped the brand maintain its exclusivity, which is paying off big time as Chinese luxury consumers are preferring more discreet and high quality products.
Hermès has announced that it will open its fifth Hermès Maison in Shanghai this September. Maison Hermès generally features a shop, offices, a museum or exhibition space. The other Maisons are located in Paris, New York, Tokyo and Seoul. Three of the five Maisons will be in Asia, reflecting the importance of the Asian consumer.
Along with the launch of the new Maison in Shanghai, the company also will open a larger store in a new location in Chengdu and a new Beijing store later this year.
Beyond its iconic Birkin bag, Hermès Chief Executive Officer Axel Dumas tells WWD that newer handbag styles like the Maxibox and Pliplat are selling well. Moreover, he expects gold jewelry, ready-to-wear, and accessories such as belts and footwear to be key areas of growth for Hermès.
image credit: hermes