![]() From left to right : Eric du Halgouët, Guillaume de Seynes, Olivier Fournier, Pierre-Alexis Dumas, Charlotte David, Wilfried Guerrand, Axel Dumas, Florian Craen. While this might seem a minor sales’ contributor (unfortunately, sales figures aren’t available), it created extensive media buzz.įinally, the last plank of the Hermès strategy is its shareholding and management structures. More recently, Hermès worked with Apple to create handcrafted leather bands for the Hermès Apple Watch, released October 2015. Petit h shows another side of Hermès luxury, demonstrating how much the group strives to make high-quality products available while meeting clients’ expectations in terms of environmental responsibility and sustainable development. The space also includes a florist, tea shop and bookstore. This makes for a very different, but unmistakably Parisian, atmosphere. This contrasts with the boutique at 24, rue du Faubourg Saint-Honoré, which has a modern style, vast spaces, and light-colored wood. Formerly the pool of the hotel Lutetia, the space was listed as a historical monument in 2005. The majority of these pieces are on display in a 1,500-square-meter room at 17, rue de Sèvres, which opened in 2010. To give just a few examples, Hermès launched Petit h in 2010, under the direction of Pascale Mussard, whose motto is “Don’t throw anything away, we will always find a use for it”. Moonik/Wikipedia, CC BY-SA Sense of innovation ![]() The Hermès store on Avenue George V, in Paris’ 8th arrondissement. The company’s third strength lies in its combination of creativity, invention and innovation. To secure its supply of the highest-quality raw materials, Hermès purchased three Australian crocodile farms at the end of 2012. Quality begins with the choice of materials. As Axel Dumas always says, “The rule of one bag, one artisan is part of our DNA”.Īt Hermès, the idea of responsibility is very important – the artisan must master all of the different stages of fabrication. One of Hermès’ core principles is that each bag be made by the same artisan, from start to finish. It takes two years for an artisan to learn how to work leather and six years when it comes to precious leathers. Hermès would not be Hermès without timeless, iconic models such as “The Kelly bag” (created in 1930, renamed in 1956) and the much larger “The Birkin Bag” (1984). ![]() In 2007, Jean Louis Dumas, the group’s iconic chairman from 1978 to 2006, told Vanity Fair: “We don’t have a policy of image we have a policy of product.” Wikipedia Creativity and skills of its artisans In our opinion, Hermès’ four major strengths are: a real identity, the creativity and skills of its artisans, innovation, and the fact that it remains an independent family company. ![]() In 2016, the company’s net profit represented 21.1% of sales, far above the industry average of 8.95% and ahead of both LVMH (10.5%) and the Richemont Group (11.36%). While the two leading companies in the luxury market (LVMH and Richemont, according to a Deloitte study, “Global Powers of Luxury Goods 2017”) far surpass Hermès in turnover (37.6 billion euros for LVMH at the end of December 2016, and 10.6 billion euros for the Swiss company at the end of March 2017), no luxury industry group beats Hermès’ performance. The group published outstanding figures for the 2016 financial year, recording sales of more than 5 billion euros (up 7.5%). What are the cornerstones of its success? But behind the beauty, refinement and quality of its products, the company is also financially strong. Hermès is a quintessential French luxury brand. ![]()
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