Hermes thrives in the Recession (Newsweek)

CindyYZ

Dreams of H and CLs
O.G.
Sep 26, 2006
1,068
4
Just saw this on Newsweek.com and wanted to share:

http://photo.newsweek.com/2010/3/how-luxury-brands-fared-in-recession.html

Hermès is one of a handful of luxury brands that have not only weathered the global financial crisis but thrived. Most fashion houses slumped last year, but Hermès managed to increase sales by 8.5 percent. Rather than slash prices, follow fashion, or go downmarket, Hermès ignored trends and focused on what it does best: produce expensive but timeless classics with unimpeachable quality that will last a lifetime.


With what we've spent during the recession, it's no surprise! :P
 

birkel

O.G.
Jan 17, 2009
6,432
475
good i mean understandig the issue is a reflcton of what hermes is but holding ground is an even more faithfull representation of the house i find it as unique as the rest of hermes and seeing that everything they make is time less i totaly understand the growth percentage stted by the company i guess all im saying is it makes sense !!!!!!
 

Leah

Member
Mar 22, 2006
2,360
23
I've been tracking Hermes earnings.

Actually, like most luxury brands, Hermes suffered a dip early last year. In fact, their net profit fell last year vs previous year.

They did have a very good Q4, which made up for the previous months weak performance.
 

jennifleur

It's Pompom time!!
Feb 22, 2006
1,527
5
OuterSpace
I like this. I love that Hermes doesn't follow trends and just do anything to make up for a few bad quarters.
True class.
 

mudmud

The Orange Wiggle
O.G.
Oct 13, 2006
1,014
4
I agree we all here have done our best to help hehehe!!! But well done Hermes.
 

mistikat

Bling!
O.G.
Sep 2, 2006
20,415
2,675
Last week they posted flat net profits. I suspect several more price increases are in the offing so that they can fund their 2010 expansion.
 

snoopybag

Member
Dec 10, 2008
24
0
long island
I wonder if it has to do with more popular styles, such as Birkins being made more available last year. I live in NY and I noticed last year that everytime I went into Hermes , Birkins were on the shelves or available for the asking from the back and they seemed quite plentiful in the Inventory available shopping thread . Now it seems that they are not as commonly out on the shelves or listed in the Inventory thread.