The series 5 44m fauve barenia I bought earlier this year shipped from the next county over so it arrived the next morning, though I'm sure if I bought the watch right at release it would have shipped from China. I'm not sure where the series 6 I just ordered is coming from, the status just went to Preparing to Ship this morning so there's no tracking info yet.
I'm guessing that Hermes crafts the bands, sends them to Apple in China for bundling, then Apple ships it, at least while the products are newly released and over time the inventory starts to become available in domestic warehouses and stores etc.
Conversely, if your order directly from Hermes, I assume Hermes crafts the band in France, sends it to Apple in China, Apple bundles everything and ships the completed unit to the Hermes distribution center in NJ. Two long global tours. A "double tour" as it were... #verypunny #dadjoke