![]() Holding a 30 percent share in J3L, an old French supplier of metal parts to the company.Setting up a joint venture with Faubourg Italia, in which Hermès holds a 60 percent share, to extend reach into the premium home furnishings segment (upholstery fabrics and wallpapers).Over a period of time, the company has extended its reputation by entering into strategic collaborations with specific players and also its suppliers in the ultra-luxury segment. In 1999, in one of its first non-brand moves, Hermès bought a 35 percent stake in the Jean-Paul Gaultier fashion house. In 1976, Hermès entered into an arrangement with British luxury shoemaker John Lobb, wherein it was allowed to use its name in return for extending the distribution reach of the brand. As of 2014, Hermès operated 311 stores globally, out of which 207 were directly owned and operated by the company. Throughout the late 1990s, Hermès extensively followed a strategy of reducing franchise stores, by buying them up, closing quite a significant many and by opening more company-operated stores. In 1993, the company went public on the Paris Bourse, which for various reasons was considered a strategic move with its own set of weaknesses. The eye of the ultra-premium luxury segment, the “Birkin bag” was introduced in 1982, after a chance conversation between the then CEO Jean-Louis Dumas and actress and singer Jane Birkin on a flight from Paris to London. The company acquired tableware manufacturers like Puiforcat, Saint Louis and Perigord in the 1980s and consolidated its position in these segments of the luxury market. In the 1970s, the company established a watch subsidiary La Montre Hermès in Bienne, Switzerland. The company’s iconic duc-carriage-with-horse logo and signature orange boxes were introduced in the 1950s. In the 1930s, the company entered the United States with an initial tie-up with the Neiman Marcus department store in New York. In 1949, the first Hermès silk tie and the first perfume ‘Eau d’ Hermès’ were introduced. In the 1930s, Hermès introduced products that have now entered the annals of fashion as icons – the leather Sac à dépêches (renamed as the “Kelly bag” after Grace Kelly) in 1935 and the Hermès carrés (scarves) in 1937. In 1922, the first leather handbags entered the product line. In the 1920s, accessories and clothing were introduced into the portfolio. In 1918, Hermès introduced the first leather golf jacket with zipper, made for the then Prince of Wales. In 1900, the company started selling the “Haut à Courroies” bag, which was meant for riders to carry their saddles in it. Between 18, it started selling saddlery and introduced its product in retail stores. Gradually, the company’s product offerings expanded through generations. Thierry’s son Charles-Émile Hermès moved the company’s shop to 24 Rue Du Faubourg Saint-Honore in Paris, where it remains to this very day and is the company’s global headquarters. Originally, his intent was to serve the needs of European noblemen. Thierry Hermès founded the company in 1837 as a harness workshop in Paris. The leather goods and saddlery category is the biggest contributor to the company’s revenues, followed by ready-to-wear and accessories, silk, textiles and fragrances. Currently, the range of products under the Hermès brand name includes leather goods, lifestyle accessories, perfumes and ready-to-wear. Hermès is not a conglomerate in the real sense of the word and does not own a portfolio of brands like its key competitors, which include LVMH, Richemont and Kering. Many that can’t afford the luxury brand flock to fake designer websites to find a Hermès replica, showing the adoration many have for the designer brand.Īccording to the 2015 BrandZ rankings (conducted by Millward Brown), Hermès was the second most valuable luxury brand with a valuation of USD 19 billion, trailing behind Louis Vuitton with a valuation of USD 24.7 billion. Due to it’s luxurious status, many can’t afford the brands products, but those who can flaunt it undoubtedly receive a lot of recognition. A combination of rich heritage, exquisite craftsmanship, eye for detail and high levels of quality and professionalism through the entire manufacturing process gives Hermès a position of superiority in the very competitive and ruthless world of luxury. In an era where pheromones (to know what are pheromones, click here) play an important role in the art of seduction, Hermès does play an important role in appealing to its audience. Hermès as a brand enjoys an iconic status in the world of luxury. It has been consistently ranked as the world’s most valuable luxury brand in different valuation and ranking studies published by leading consultancies. Hermès International, sometimes also referred to as Hermès of Paris or Hermes, is a French luxury goods manufacturer. ![]()
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