From the Birkin-Labubu phenomenon to Nadège Vahnée's wife, Hermès gallops ahead in Shanghai
data-modal-image-caption=On the shores of North Bund Bay in Shanghai, Hermès unveils the second chapter of its Fall/Winter 2025 collection on a 115-meter catwalk. data-modal-image-credit=Hermès> 
While its competitors are suffering from the slowdown in Chinese consumption, the saddler presented the second part of its powerful winter women's collection on the Bund on Friday evening. While on the street, its iconic bag found an unexpected ally in the Pop Mart creature...
Why, while the luxury industry has been suffering a severe decline in activity for several months, is Hermès continuing to see its sales climb? What is the state of the Chinese market, which, after having been considered an El Dorado for European houses, is showing stagnant growth and consumption? We wanted to find answers to these two questions that are shaking up the sector by going to Shanghai for the saddler's "second chapter of Fall-Winter 2025" show. Secretly, we were also entrusted with a parallel, more personal mission: to find, at the request of an insistent teenager, a Labubu, this keychain plush toy from the Pop Mart brand sold out in France that we naively thought could be found in its native country. Not only did it turn out that the most difficult investigation was not what we thought, but that the subjects were inextricably linked...
Also read : "The only one in the world": a Labubu figurine sold for 130,000 euros at auction in China
Unlike its competitors, the "big four" ( Chanel
This article is reserved for subscribers. You have 90% left to discover.
lefigaro
