Hermes thrives in the Recession (Newsweek)

[CindyYZ]

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!

 

[birkel]

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 !!!!!!

 

[hermes_lemming]

Survival of the fittest!

 

[LGA82]

Survival of the fittest!

Absolutely! And we're all doing our best to help!

 

[Leah]

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.

 

[fashionistaO]

kudos to the loyals welcoming the newbies^

 

[dreamdoll]

Thanks for sharing the link!

 

[jennifleur]

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]

I agree we all here have done our best to help hehehe!!! But well done Hermes.

 

[shadowyi]

This is why I converted to Hermes. Elegant quality to last a lifetime. :]

 

[mistikat]

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.

 

[JustinCredible]

I think this sums up why they are thriving... quality always shows through.

Hermès ignored trends and focused on what it does best: produce expensive but timeless classics with unimpeachable quality that will last a lifetime.

 

[snoopybag]

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.