Just as the world is wondering whether Greece’s financial woes will translate into another international crash, Hermes has released some promising sales figures.
The French fashion house increased its first quarter sales by 19%, which translates to a jump of around $651 million. It was even better news at Hermes’ boutiques, which reported a 26% sales jump. The most popular Hermes items were those iconic leather goods, perfumes, and watches.
The secret to Hermes latest success is to introduce products that are more accessible to money-conscious luxury hunters. While we’ll never see Hermes create a department store diffusion line, its more affordable products have done great business. While a watch priced between $2000 and $4000 could never be regarded as cheap, it’s a lot less expensive than a Birkin bag. And at around $100, the new Voyage d’Hermes fragrance almost seems like a steal.
The recent numbers speak for themselves. Clearly Hermes is doing something right!
