Maison Solstice: One Maison Across Asia

The brief, and what to look at

The executive summary

Written in SCQA order: the situation, what complicates it, the answer, then the pillars the rest of the deck proves.

Situation

Asia contributes 53.1% of Hermès revenue and 46.0% of Prada retail sales in H1 2026.

Solstice’s illustrative Asia business contributes €1.18bn and 38% of group sales.

Complication

Illustrative overseas buying reaches 48%; current pricing moves miss the proposed corridor

Answer

Approve a gated ±10% by 2028 ambition, destination flagships and cross-border clienteling

Supporting pillars

1. Asia remains material, but demand requires a market-by-market reading
2. A ±10% corridor offers direction, not yet a complete price plan
3. Destination boutiques and clienteling follow clients across borders
4. An 18-month programme earns investment through evidence and cash discipline

The storyline, title by title

Every slide title in the deck, in order. Each one is a full-sentence claim, so the titles alone tell the story.

1. Asia Demand Evidence

   Asia’s importance is established; a uniform recovery is not. Separate peer performance, watch shipment proxies and visitor spending before placing capital.

   1. Asia contributes 53.1% of Hermès revenue
   2. Prada trims stores while retaining 314 Asia-Pacific boutiques
   3. Our illustrative €1.18bn Asia business has lost momentum
   4. China’s watch exports fall 34.8% in 2023–2025
   5. Recent China–Korea tourism claims remain unverified
   6. Chinese category purchasers spend ¥63,108 in Japan
   7. Prioritise destination markets without inventing wealth rankings

2. Coherent Asian Pricing

   Narrowing unjustified gaps is the right direction. The Shanghai ticket conflict and incomplete market adjustments must be settled before rollout.

   1. Shanghai’s illustrative Arc index reaches 132
   2. The Shanghai ticket implies 18.7%, not 32%
   3. Illustrative overseas Chinese buying rises 17 pp
   4. Illustratively, 6.4% of clients generate 65% of sales
   5. The corridor offers the strongest illustrative profit case
   6. Proposed moves leave key indices above 120

3. Retail and Relationships

   A smaller, more selective estate can serve a wider client journey. Destination investment works only when the relationship remains with the maison.

   1. The illustrative network shifts from 64 to 61 boutiques
   2. Give Ginza, Seoul and Shanghai distinct retail roles
   3. Serve travelling clients through one maison relationship

4. Gated Implementation

   Approve the programme’s direction now. Release prices, leases and capital only after the relevant commercial, legal and cash gates.

   1. The €32M uplift is illustrative, not a forecast
   2. Approve an 18-month programme, not an uncosted expansion
   3. Approve three directions and earn each investment through evidence

The company at the centre of this deck is fictional, and figures marked illustrative in the deck are made up for the example. Public figures come from the sources listed on the deck’s Figures & Assumptions pages, which Whyston adds to every deck.

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