French luxury company Hermès has spent nearly 200 years emphasizing quality, scarcity and desirability — a strategy that's helped it dominate the luxury sector, even over its much larger rivals.
Analysts say the Birkin and the Kelly account for between 25% and 28% of Hermès' total revenue.
For fiscal year 2023 Hermès reported the fourth-highest revenue total of the major luxury fashion brands, behind LVMH , Richemont and Kering .
In its most recent quarter, Hermès posted double-digit revenue growth while competitors LVMH and Kering reported sharper-than-expected declines in sales.
Globally, many luxury consumers have pulled back on spending, particularly aspirational buyers in 2023 and 2024.
Persons:
Hermès, Birkin, Kelly handbags —, Jane Birkin, Princess Grace Kelly of Monaco, Kelly, Luca Solca
Organizations:
Bernstein
Locations:
LVMH