Luxury brands in China have had a cascade of visitors following the end of a lockdown to curb the spread of the novel coronavirus, setting new revenue records.
High fashion luxury goods manufacturer Hermes, known for its signature scarves, had a turnover of 2.7 million dollars when the store, the second largest in the country, reopened for business.
Hermes’ single day turnover is the highest a boutique in China has ever seen, according to statistics.
This much welcome development has reinvigorated hope among China’s other luxury stores that are waiting to re-open their gilded gates to customers.
This buying frenzy has been branded as China’s “revenge shopping” since stores were shut down.
The government is pushing businesses and factories to reopen, as it rolls out fiscal and monetary stimulus to spur recovery from what is feared to be an outright economic contraction in the quarter to March.
At Wuhan International Plaza, shoppers had to queue 1-1/2 meters (5 ft) apart for temperature checks while flashing “green” mobile telephone codes attesting to a clean bill of health.
