Hermes, this Greek mythical figure had nothing to do with the modern brand. However, the name in itself oozes with status. First founded by Thierry Hermès, the brand now has over 15,000 workers across its 300 branches. From ready-to-wear accessories to its infamous handcrafted bags, Hermès has continuously conquered the fashion industry.
People across social media fight tooth and nail to be offered a bag as if there are no other luxury stores. The “Kelly” bag modelled after Grace Kelly or its latter, larger sister, the Birkin bag named after Jane Birkin, cannot be bought by any wealthy customer. The customer must have accumulated spending ranging from bags to horse saddles. Only after building a rapport with the store clerk can the customer be moved to a waiting list where they wait for anywhere up to 5 years. Afterwards, the customer’s bag is chosen for them; if they refuse, they may never get the chance to own one of the brand’s fine crafts. Hence, they would have to start over.
How has the brand continuously maintained its scarcity allure through so many years?
The answer is that they produce less. As the saying goes, less is more. Would you rather have 100 bags sold for 10,000 KD or one bag sold for the same price? Hermés has strategically mastered the core concept of supply and demand to the point where they produce less and earn more than most popular fast fashion franchises.
Additionally, the brand continues to maintain its demand by focusing on craftsmanship and quality, often burning ‘imperfect’ bags before hitting the market. In a sea of luxury brands, Hermès has maintained its reputation, making it the second most valuable luxury brand this year.
The brand has left the world baffled time and time again with its groundbreaking marketing. Who knows? Maybe less is truly more.
