Ginza Xiaoma, the Japanese authorised partner of French luxury brand Hermes, has opened its first boutique in Singapore, its third globally.
Located on Orchard Road, the 240sqm store follows a flagship in the Ginza Tokyo, and a Hong Kong boutique.
Founded in 2015, Ginza Xiaoma has almost 10 years of experience buying, consigning, selling, and trading-in Hermes handbags and accessories.
According to the company, customers can purchase Hermes handbags at the Singapore store, which offers the region’s largest selection of rare Hermes handbags, including a Sterling Silver Kelly 15, Diamond Himalaya Kelly 28, and Birkin Faubourg.
Ginza Xiaoma Singapore also hosts the region’s private buyer-only online Hermes auctions and allows individuals to consign their bags. The company says it will introduce NFT auctions and blockchain proof of authenticity in future.
“We’d already established some strong relationships with local collectors and knew there was an appetite for Hermes resellers,” said a Ginza Xiaoma executive.
“Singapore is rich with stylish, affluent luxury lovers, but there are a limited number of high-end resellers catering to them.”
As reported by Statista, Singapore’s luxury fashion industry will generate $770 million in revenue this year. The market is anticipated to increase by 4.79 per cent annually (CAGR from 2022-2027).