Hermes Singapore relaunches flagship
With Hong Kong’s status as a luxury shopping hub slipping away, French high-fashion brand Hermes Singapore has relaunched its flagship store.
This follows other luxury retailers placing their confidence in Singapore. Watch brand Patek Philippe has refurbished its Singapore store to become the brand’s largest outlet in Southeast Asia, while lifestyle fashion brand Moncler opened its first boutique in the city last year.
On Orchard Rd, the Hermes store has been expanded to 670 sqm over four storeys, similar to the family-owned group’s store on London’s Bond Street. CEOAxel Dumas describes the expansion as an “expression of our commitment to Singapore, the region, and our faithful clientele”.
Attending the relaunch of the store, he described Singapore as “one of the world’s greatest trading centres, perfectly placed between east and west”.
Meanwhile, Hong Kong’s slump, mainly the result of fewer mainland Chinese tourists spending less on shopping, has affected such retailers as Burberry, Richemont and luxury jeweller Chow Tai Fook, which expects to close up to six stores in Hong Kong.
Hermes has blamed a “difficult context” in Hong Kong and Macau for modest sales growth in Asia outside Japan.
Chinese tourism arrivals in Singapore rose by 34 per cent in the first two months of this
year, compared with the same period last year.