With study findings like the above, it comes as no surprise that Hermes is keen to cash in on the luxury boom in China. Later this year, they plan to open a Chinese subsidiary, Shang Xia, which will sell furniture, clothes and household accessories.
According to Singapore’s Straits Times, Shang Xia will open its first store in Shanghai in the Spring, then a second store in Paris in the Autumn.
We can’t wait to see if this bold new strategy works for Hermes. Just last week, in our January 18 article, we reported that they are on a winning streak in Las Vegas, so it will be interesting to see if their luck continues…