Hermes Hong Kong to open flagship
Luxury retailer Hermes Hong Kong has officially confirmed its new Central flagship store will open in “early 2018”.
As Inside Retail Hong Kong reported in February, Hermes will move to the Prince’s Building in Central from its present store, a block away at The Galleria on Queen’s Road, according to real estate agents. Several tenants at Prince’s, including Alfred Dunhill and Brooks Brothers, will make way for the new Hermes store, which at 10,000 sqft (929 sqm) will be almost double the size of its shop at The Galleria, developed by Hongkong Land Holdings.
The move represents a switch in strategy from owning its retail space to renting.
Also owned by Hongkong Land, Prince’s Building already has such luxury retailers as Cartier, Chanel, Ralph Lauren and Van Cleef & Arpels.
Hermes paid HK$190 million (US$24.49 million) in 2002 for its space in The Galleria, and is selling it for HK$1.5 billion.