China Hermès Store Makes $2.7mil Upon Reopening After Lockdown

(source: Robb Report)

As life slowly returns to normal in some parts of post-lockdown China, most of its citizens are beginning to pick up from where they left off and that includes – cashing out on some post-coronavirus drip!

According to WWD, Hermès China flagship store in Guangzhou’s Taikoo Hui reportedly pulled in $2.7 million in sales on its first day of reopening last Saturday. Multiple sources stated that this is possibly the largest one-day revenue total for a single boutique in China.

Various items were purchased at the French luxury boutique, including tableware, shoes, furniture and leather goods. But that’s not all, rare bags were also delivered to the standalone 5,500 sqft Hermès store that spans two levels. Among the rare bags was a diamond-studded Himalayan Birkin! Rosmah is shaking…

(source: CNA Luxury)

Although Hermès did not immediately respond to verify this tally, a host of VIP shoppers documented their extravagant purchases across multiple social media platforms, including Weibo and Xiaohongshu, reinforcing its likelihood.

One shopper identified as Atomniu, posted extensively about her spending spree claiming to have spent $142,124 in Hermès that day. Her purchases included a black crocodile Birkin handbag in addition to clothes and shoes.

(source: WWD)

Hermès CEO Axel Dumas explained that China’s coronavirus outbreak struck the company because it happened to “an important country for our industry at an important time”. He highlighted that standalone stores like Hermès in Guangzhou are doing better than locations in malls because people are still wary of mass gatherings.

Sounds like “revenge-buying” is strong this time around and the Hermès rebound offers a sense of hope for retailers.

‘Til then, stay home and keep updated with JUICE