Does Richemont’s divestiture of Shanghai Tang mean that Chinese Luxury Brands are doomed to fail? Hermes backed Shang Xia might prove otherwise
Shang Xia, the Chinese subsidiary of Hermès International, will open its first French store in Paris’s ultra-chic Saint-Germain-des-Près neighborhood on September 12.
Shang Xia, meaning “up” and “down”, recently opened a second store in China, with a boutique in Beijing’s China World Mall.
Hermes has opened its first boutique for its new brand Shang Xia — a bold strategy that highlights China’s growing importance to luxury goods companies. “We are very moved — this is like the birth of a child,” Hermes chief executive Patrick Thomas said ahead of the inauguration of the shop in Shanghai. The store, […]
This spring, Hermes plans to launch a new brand, called Shang Xia (meaning “topsy-turvy” in Mandarin), in the lucrative Chinese market. It’s an interesting move from Hermes, who generally tends to buy all or part of existing brands. Shang Xia will include ready-to-wear and decorative arts inspired by Chinese culture and traditions of craftsmanship.