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Hermes to open its first Shang Xia Store in China

Andrea Divirgilio / April 5, 2010

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Last year in August, the Hurun Report on China had bombshell figures revealing 143,000 multimillionaires and 8,800 billionaires in Beijing alone, and soon after it came as little surprise that Cartier was doubling its stores in China in the next four years. However, there’s new name that’s joining to exploit the riches of this newfound red-hot market – Hermes, the French maker of luxury handbags and silk ties, plans to open its first store under the Shang Xia brand in China in September. As the beginning of a luxury consumption wave is finally taking off, we can expect to see the future launches hitting China first then anywhere in the world.

Via: China Post/Luxury Insider

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