Hermes First Launched A New Brand "Up And Down" Store In Shanghai In Mid September.

In mid September, France

According to "up and down"

"Made in China" luxury goods

"There were also luxury companies working with Chinese brands before, but there were not many phenomena of starting a Chinese brand from scratch."

Ceng Mingyue, a researcher at the Cheung Kei luxury research center of China University of foreign trade and economics, said that most of the luxury brands had acquired Chinese characteristics through acquisitions. For example, Richemont bought the "Shanghai" which was specially designed to make cheongsam, and Sichuan Wenjun liquor industry was bought by LVMH.

The impression of "made in China" has never been high-end.

Many people in the industry believe that selling a brand made in China is a big challenge in itself.

Sun Yimin, a luxury goods expert at Fudan University in Shanghai, says it looks obvious that the shoes, handbags and jewellery sold abroad are obviously better than those designed for the local market.

Zeng Mingyue said that the launch of "up and down" brand is likely to affect the high-end image of Hermes. "Hermes company will definitely clear the relationship between the two brands of Hermes and" up and down ".

Ke Ruihan, managing director of the Florian Craen, said in an interview with the financial times that Hermes is a "Paris company" and "up and down" will be totally different from it.

It is understood that the "up and down" and Hermes in Shanghai belong to two companies, each has its own independent market, public relations and other departments.

The compromise of Hermes

In the eyes of industry researchers, the introduction of Chinese brands - "up and down" is the result of compromise between the market and the brand concept.

China, which has rapidly grown into the second largest luxury market in the world, has become a battleground for luxury brands.

And the "limited" famous Hermes entered China later. At present, it not only lags behind Louis Weedon (Louis Vuitton) and Gucci, but also falls behind Prada (Prada).

As of June, the number of Hermes stores in China was less than 20, and was limited to its own "positioning". The expansion rate was far less than that of Louis Weedon and GuZi.

"The price of a KELLY package for Hermes is more than 60 thousand yuan, and it must be customized. Customers will have to wait a year and a half before they get it."

Zeng Mingyue believes that the high price and the limit will not allow Hermes to expand as quickly as LV and GUCCI.

"For Hermes, of course, we hope to seize more shares in the Chinese market."

Faye Wong, a researcher at the Cheung Kei luxury Research Centre, China University of foreign trade and economics, believes that the launch of the "up and down" brand can complement each other with Hermes, while maintaining the high-end image of Hermes and subsidizing the company's finances.

"Up and down" expansion plan

It is worth noting that Hermes chose to regard Chinese culture as a breakthrough and name it as "up and down" which is rich in Chinese traditional philosophy.

According to "Hongkong Economic Daily" reported that the "up and down" after the opening of Shanghai, in the future will also set up an image shop in Paris, France.

Hermes explains that "up and down" is mainly sold in China, but the brand display in Paris will enhance its brand value, especially for Chinese tourists coming to France to recognize this brand.

Mr Ke told the financial times that logically, second stores will be opened in Beijing.

He added that if the "up and down" performance is good in China, Hermes will extend the brand to other countries.

According to the financial times, Mr Ke added that although Hermes is developing luxury brands in China, its mainstream product line, which has 18 stores in China, will not produce special products for the Chinese market.