Ultra-luxe label Hermès has unveiled a newly transformed flagship in Beijing's China World Trade Centre. It covers two floors and more than 900 sqm with an “eye-catching façade that beckons from afar”.
Covid-19 has boosted e-tail, especially for multibrand sites and leading luxury labels, according to a study by Bernstein for Altagamma. An evolution that means other labels need to rethink their commercial strategy.
Luxury puffer jacket maker Moncler said on Thursday sales increased by 21% at constant exchange rates in the first quarter of the year, pushed by a strong growth in Asia and solid signs of recovery in North America.
Hermès had a good first quarter as all of its business lines returned to growth and the company said it saw "a remarkable increase" in ready-to-wear and accessories, as well as watches and other categories.
Sales at Kering rose by 26% in the first quarter of 2021, led by a strong rebound for its star label Gucci, with growth in Asia and the United States more than offsetting new coronavirus lockdowns in much of Europe.
The pandemic has forced luxury goods companies to use social media, video and virtual showrooms to woo their wealthy customers in Europe when tourists, especially from China, have been absent for more than a year.
Luxury Swiss watchmakers, usually not fans of online retailing, are launching a new digital Watches & Wonders event on Wednesday to show off their latest products, hoping to revive sales hit by the coronavirus crisis.