Radiance will continue to indirectly hold a 42%–45% stake in Beijing SKP and will retain control over the company, which will maintain its pre-transaction operational and management structure.

Luxe.CO conducted this on-site visit on November 7, the first day of the anniversary celebration, as well as during the afternoon and evening of Saturday, November 9.

According to statistics from Luxeplace.com, from January 2023 to July 2024, the Luxe.CO Luxury Stock Index decreased from 249.1 to 226.7, a decline of 9.0%. Contrary to many expectations, the global luxury market did not experience a resurgence.

DT51 is a fashion shopping center developed by Beijing Hualian Department Store Co., Ltd. as an upgrade project for community commerce.

In addition to the stores at the Peninsula Beijing and SKP, Hermès also has a boutique located at China World Mall in Beijing.

“This time, we brought the nearly two-century-old tradition of luxury leather craftsmanship to Chengdu and launched the first Artisan Journey in China, paying tribute to the heritage of craftsmanship.”

This shop also marks the fourth independent store the brand has opened worldwide. The other three branches can be found in New York, Los Angeles, and London.