The first store opened by a luxury brand in mainland China often has a decisive strategic significance.
In 1997, Hermès opened its first store in mainland China at the then Wangfu Hotel in Beijing, heralding a new stage of development for the fledgling Chinese luxury market. After 26 years, the high-end business landscape in China has changed drastically. However, Hermès still choose to redecorate the “old store.” What is the significance of this?
On April 17, Hermès opened the new Hermès store in Beijing Jingyu Hutong, now known as The Peninsula Beijing, after a complete …
