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!
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!