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Tuesday, July 21, 2009

Handbag News: Luxury Goods Giant Hermés Is Still Recession-Proof


Move over Louis Vuitton. There's another iconic French luxury goods label posting a profit during these troubled financial times. Hermés reported a 12% rise in sales for the second quarter of 2009. Asia and the U.S. were the best performing geographical areas with Asia netting a 29.7% increase in sales. Ironically, European sales declined by 1.2%. Hmmmm.....

The Paris-based label cited a constant demand for leather goods, particularly their infamous handbags. The Birkin is a recession-proof beast. Was their any doubt about that?

Source: WWD

comments

3 Responses to "Handbag News: Luxury Goods Giant Hermés Is Still Recession-Proof"
  1. Michael St. James said...
    Tuesday, July 21, 2009

    Hermes never ceases to amaze me! Did you hear about the croc farms that they had to build just to keep up with demand?

  2. Dania Padron said...
    Tuesday, July 21, 2009

    When I read about the croc farms last month, I just knew they would be turning a profit. I couldn't believe they need three to four crocodiles to make one bag. Amazing how much goes into making one of their bags - materials and worksmanshop. Sadly, that also means they must use between 9-12,000 crocs to keep up with their demands on a yearly basis. The croc farms were obviusly necessary for business even though it's a big topic of debate among handbag lovers.

    One thing is certain - luxury is not dead yet.

  3. Tony said...
    Friday, July 24, 2009

    Amazing how much goes into making one of their bags - materials and worksmanshop.

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