1/10/2024 0 Comments Hermes trackingThe brand “remains in a league of their own,” according to Citi analyst Thomas Chauvet. The 2021 numbers look “as if the pandemic never happened, or even a bit better,” Bernstein analyst Luca Solca said. With full-year sales expected by analysts to exceed €9 billion ($10.5 billion), the house is in striking distance of reclaiming its title as luxury’s third-biggest brand (behind Louis Vuitton and Chanel) from Gucci, which surpassed Hermès in 2017 but has rebounded more slowly from the pandemic. Sales in the first nine months of this year rose 60 percent year-over-year, and by 43 percent compared to 2019′s pre-pandemic levels, Hermès said Thursday. On the other hand, despite its aura of staid permanence, Hermès’ recent statements suggest a faster pace of change at the company, including adding new product categories and ramping up initiatives linked to sustainability, technology and omni-channel retail to meet the demands of the market. It’s an apt metaphor for the French brand to adopt as it navigates the post-Covid fashion market: On the one hand, Hermès’ ultra-classic, stable positioning at the top of luxury’s pyramid has made it one the sector’s largest and most resilient players, with sales bouncing back quickly from coronavirus lows as consumers flocked to its range of timeless, status-conveying items. This year’s theme, the Odyssey, is about “confronting the world’s uncertainties without losing our identity,” chief executive Axel Dumas said in a July presentation. Each year, Hermès sets a creative theme for its design studios, with the aim of sparking conversation and providing some unified direction among its myriad propositions, ranging from entry-level scarves to high-end handbags and custom yacht upholstery for the happy few.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |