Hermes rise Continues with 13% Sales Increase in an Otherwise Battered Luxury Market.

 

Time and Time again one brand rises despite all obstacles, circumstances. and conditions.  That brand is Hermes. 

The company has repeatedly shown it's ability to turn in the right direction within changing times, always making the smart choices, never joining with anything but entirely coherent partners, and either being part of the zeitgeist, or setting trends.

Because of its approach, back in 2019-2022, in the teeth of the Pandemic, while all other brands were taking losses, Hermes sales still grew, albeit by only 2%, but in contrast to it's competitors, a remarkable achievement.  Today, in a market where nearly every luxury brand barring watches are down at least 4.9%, Hermes have grown by 13% for Quarter 2 of 2024, with an impressive $4.02 billion USD.

The brand has even managed to keep its revenue flowing in the Asian marketplace, one in which every other luxury group is faltering.  Hermes however, has remained stable.

The exclusivity of their products is one reason for this, along with brand loyalty.  Paramount however in a mass produced world of mass consumerism, the handmade, artisanal nature of Hermes products have made them in many cases become Veblen goods, an economic term referring to those goods the value and demand for which increases despite price rises.

We hope the brand continues to dominate, and we earnestly hope it does so without being seduced by the bland corporate swan song of LVMH, which is no doubt salivating and dreaming of the idea of owning, and ruining, this brand.