Retail Media Networks: Why Every Retailer Wants to Be the Next Google
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French luxury fashion house Hermes opened its flagship store in Guangzhou, China after a two-month break.
French luxury fashion house Hermes opened its flagship store in Guangzhou, Guangzhou after a two-month break. According to Esquire, the first day of operation brought store revenue of 19 million yuan, equivalent to 2.7 million dollars.
The store, located in the Taikoo Hui Guangzhou shopping mall, brought rare handbags for its opening, including the Himalayan Birkin crocodile leather – one of the most expensive in the brand’s history.
After a long quarantine, the opening of Hermes attracted a lot of interest from wealthy residents of Guangzhou and Guangdong Province as a whole. Bags, shoes, leather accessories and interior items were the most popular items in the store.
Experts note that the opening of Hermes after a two-month pause has created a “buy-back effect” and gives hope to other luxury goods sellers to restore demand after the record market decline since early 2020.
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