Economic crisis? What crisis?

Bucking the trend, Hermes announced to open its new flagship store in Hong Kong, doubling the size of its orignal shop in Tsim Sha Tsui in Kowloon, part of the giant HarbourCity shopping mall.

Is the latest expansion of Hermes in Hong Kong, one of the best-selling markets in the world for many luxury brands — at least before Covid-19 changed everything — a vote of confidence to Hong Kong’s economic recovery, or more to the hope of recovery of Hong Kong-Mainland China tourism?

For many Chinese fans of Hermes, Hermes is Hermes. Nothing else will do. This can be proved in a viral screenshot of the popular 2020 Chinese TV drama “Nothing But Thirty” (三十而已), featuring a group of wealthy housewives and their Hermès Kelly and Birkin bags. The TV drama brings the authoritative sense of Hermes in the fashion business to a new level in China as the hidden message from the screenshot is simple: the rich only buy Hermes. Nothing else.

Hermes is a miracle.

Even during the Covid-19 pandemic, there has been always a queue of shoppers in front of Hermes stores in Hong Kong. Some say buying Hermes bags can generate even higher return than buying stocks.

To a certain degree, Hermes is more than a luxury brand; it’s already a kind of investment option.