Hermes reopens its doors at the Tysons-area Shops at Fairfax Square tonight after an extensive renovation that more than doubled the display space in the high-end clothing and accessories boutique.
The store’s relaunch is another sign that the Washington region’s consumer base is increasingly affluent, according to industry professionals.
“Even though we’re in a little bit of an economic crunch right now, with higher energy costs and the housing market slowing down a bit, there’s still a big demand for luxury,” said Scott Krugman, a spokesman for the Washington-based National Retail Federation.
“Frankly, it takes more than higher gas prices for some consumers to blink.”
Hermes expanded the selling space in its Tysons location because the store has consistently outperformed the rest of the U.S. market, said Robert Chavez, president and CEO Hermes of Paris Inc.’s U.S. operations.
“Washington has definitely outpaced our growth in the U.S. market,” he said. “We’ve doubled our business in the last four years, and that’s before the renovation.”
Hermes is just the latest in a string of high-end boutiques to relaunch their brand names in the Washington region.
The Collection at Chevy Chase, which includes luxury retailers such as Jimmy Choo and Bulgari, held a high-profile grand opening party last month and positioned the Collection as the “Rodeo Drive of the East Coast.”
Chavez said Hermes was approached about opening a location in Chevy Chase but decided to stay in Tysons, where the high-tech corridor has created a built-in affluent customer base.
“We’ve done so well there and our clients know where we are,” he said. “But that’s not to say down the road we won’t consider a second location.”
Other high-end boutiques in Fairfax Square
» Louis Vuitton
» Tiffany & Co.
» Gucci
» Elizabeth Arden’s Red Door Salon & Spa
