HERMES BUILDUP: Luxury fashion house Hermes said Thursday that it has purchased nearly seven acres of land in central France on which it intends to build a new factory. The 35,000-square-foot facility is slated to open in spring 2003. A spokeswoman said production capacity has yet to be determined, but the factory is part of Hermes’s strategy to increase production to meet demand for its luggage and handbags.