Paris, France: French luxury goods group Hermes is set to open a Chinese subsidiary later this year that will sell furniture, clothes and household accessories, the company said on Wednesday.

The group, which already has a major presence in the fast-growing Chinese market, said the new company, Shang Xia, would open its first store in Shanghai in the spring, then a second in Paris in the autumn.
   
The company will have Chinese managers and is intended to showcase “high-class Chinese artisanal knowhow,” Hermes said.

Hermes already has stores in around a dozen Chinese cities.