In a statement announcing its “new store recruitment”, French fashion house Hermès announced that the brand will soon usher in the opening of new stores in Wuxi as well as other cities throughout China in 2024. The new store recruitment positions include store manager, deputy manager, sales manager, and more.
Hermès first entered Wuxi in 2009 with a store in Wuxi Commercial Building (now the Great Eastern Department Store). However, in 2013, the French fashion house had to shut it down due to business adjustments in its shopping mall. At present, Hermès owns two stores in Jiangsu province including one in Nanjing Deji Plaza and Suzhou Metro Mall.
According to statistics gathered by Luxe.co, the city of Wuxi had 9 luxury brands open 11 stores in the past year. In addition, K11 Art Mall officially signed a contract with Wuxi Economic Development Zone, suggesting that K11 will soon make its debut in Wuxi. The shopping mall has gained fans in many cities due to its latest model that combines luxury and art. At present, the luxury commercial complex is only distributed in six cities across mainland China, including Wuhan, Shanghai, Shenyang, Beijing, Guangzhou, and Hangzhou.
As for the city itself, in 2022, the total GDP of Wuxi was around 1.485082 trillion RMB, ranking third in Jiangsu province and 14th in the country. In terms of per capita GDP, Wuxi ranks third nationwide at 196,556 RMB, surpassing some of China’s largest cities such as Beijing, Shanghai, Nanjing, and Suzhou.
All in all, with high-profile commercial projects on the horizon, luxury brands are keeping their eyes peeled for an opportunity to enter this potentially booming market.
