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.
More from NEWS
Emaar Hospitality Group has announced it will open four beach resorts in the UAE by next year, providing details on …