Retail
Hermes Reopens Most China Stores Though Demand Remains Weak
- CEO Dumas sees ‘potential normalization’ in China amid virus
- Luxury brand maintained double-digit earnings growth last year
A cleaner walks past an Hermes store in Beijing.
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Hermes International is seeing a “potential normalization” in China, though it’s too early to predict when the market will recover from the coronavirus outbreak that is hammering luxury spending, Chief Executive Officer Axel Dumas said.