The Expansion Of Hermes In The Chinese Market Will Expand In Shanghai.

According to reports, Hermes is still optimistic about China.

The company will open a total of 4 layers of luxury stores in Shanghai, China recently.

In addition, Hermes also plans to open two new stores in Beijing and Chengdu this year, and will open at least 1 new stores next year.

At present, Hermes has 21 stores in China.

Hermes also plans to open a new store in Shanghai next month for Chinese brands.

The "up and down" brand already has two stores in China and has a store in Paris.

There is a slowdown in demand for luxury goods in China.

According to Bain&Co., Bain, China's luxury sales are expected to increase by 2% this year, which is much lower than the 20% growth rate 3 years ago, thanks to the slowdown in economic growth and the Chinese government's anti-corruption campaign.

In fact, some foreign countries.

Gucci chose to slow down the pace of growth. Last year, Gucci said it would slow down its opening up in China, which now has 58 stores in China.

Niemann, Marcus, said last year that he would abandon plans to open a store in China.

Analysts say that in recent years, the rapid growth of luxury goods has made

Competition is more intense, and luxury goods are becoming more popular.

HugoBossAG currently owns more than 105 stores in mainland China, and Alfred Dunhill, Dunhill's reRichemontSA, operates 58 stores in China.