Hermes' roaring comeback in China hints at 'revenge spending'

Finally freed from lockdowns, status-seeking consumers race to high-end stores

The exterior facade of the Hermes store at Guangzhou's Taikoo Hui mall features enamel-covered bricks and wooden screens that offer a semitransparent view inside. (Photo courtesy of Hermes)

RINTARO HOSOKAWA and ALEX FANG, Nikkei staff writers

April 29, 2020 02:50 JST

GENEVA/NEW YORK -- When Hermes reopened a Guangzhou store in a larger format at the Taikoo Hui shopping mall on April 11, it is thought to have hauled in at least $2.7 million that day, likely the biggest tally for a single boutique in China, according to Women's Wear Daily.

The combination of a posh interior -- a beige- and coffee-colored mosaic floor inspired by the flagship store in Paris -- and the exclusive objects, such as bespoke versions of the Birkin bag interpreting the Brandebourgs scarf design, attracted an army of luxury-hungry affluent shoppers from across southern China and beyond.