54
+23%
7,616 $m
Luxury
Famous for signature products such as its iconic scarves and the Birkin and Kelly bags, Maison Hermès is an enduring luxury brand famous for its craftsmanship, elegance, and storytelling. Hermès achieved outstanding financial results, with a record profit increase of 26.4 percent in 2012 and 12.8 percent (at constant exchange rates) in the first quarter. The brand’s concerted commitment to its craftsmanship was further asserted this year in the acquisition of one of its suppliers, Tannerie d’Annonay, a French company specializing in “box leather.” Two leather goods ateliers are scheduled to open by 2016 and will be home to teams of around 600 craftspeople. Hermès, confident in its connection to the brand, looked to expand its reach through the unusual decision to debut on Harper’s Bazaar’s e-commerce site and sell its products on a website other than its own. Responding to an evolving customer profile, this year Hermès updated some of its product lines, embracing heritage and modernity in a collaboration with Japanese designer Rei Kawakubo. In the last year, LVMH aggressively acquired 22.6 percent ownership of Hermès. This followed on the heels of the Hermès family’s move to return leadership to a member of the family, Axel Dumas, set to succeed Patrick Thomas, who will be retiring at the end 2013. Staying true to its core and its unique savoir-faire will serve Hermès going forward.