As soon as Chinese citizens were freed from quarantine they cashed out on some post-coronavirus drip.
The day one of Hermès’ Chinese flagship stores reopened, the company reportedly pulled in $2.7 million in sales on Saturday, Footwear News writes. According to multiple sources, this is possibly the largest one-day revenue total for a single boutique in China.
The 5,500 square-foot Hermès store is located in Guangzhou. This city is in Guangdong, one of China's wealthiest mainland provinces and its most populous. The store reportedly received a shipment of rare handbags, including a diamond-embellished Himalayan Birkin, prompting customers to flock to the location. While they were there, shoppers purchased footwear, furniture, and leather goods.
This is a much-needed boost for the luxury industry that has taken a hit due to the current coronavirus pandemic. Hermès CEO Axel Dumas explained that China's coronavirus outbreak struck the company because it happened to "an important country for our industry at an important time."
As the curve starts to flatten around the world, Dumas said standalone stores like Hermès in Guangzhou are doing better than locations in malls because people are still leery of mass gatherings.
