ConsumerHermes' 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
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.