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Shang Xia

Controversies

Controversies tied to this brand in public sources. A listing is not a finding of fault.

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  1. 2020

    Hermès-backed Shang Xia unprofitable for a decade; controlling stake sold as losses persist

    Shang Xia was founded by Hermès and designer Jiang Qiong'er in 2008. Hermès once invested about €10 million a year and said it would break even in 2016, but it long fell short of expectations. At the end of 2020, Hermès sold its controlling stake to Italy's Exor for about €80 million; the brand then changed its logo and pursued an aggressive transformation, but in 2022 it still had a net loss of about €25 million, and its Beijing Peninsula store closed. Control changed hands and the brand continued to lose money.

    Source