Hermes is a luxury brand that has been known to be one of the most expensive brands in the world. The brand is known for its iconic Birkin and Kelly bags, scarves, and other accessories.
But why is Hermes so expensive? In this article, we will dive into the factors that contribute to the high price tag of Hermes products.
Materials
One of the main reasons why Hermes products are so expensive is because of the materials used to make them. The brand uses only the finest materials, such as exotic leathers like crocodile, alligator, and ostrich.
These materials are highly sought after because they are rare and difficult to obtain. The process of sourcing these materials is time-consuming and requires special skills.
In addition to exotic leathers, Hermes also uses high-quality metals like gold and palladium for their hardware. The company has its own foundry where they cast their own metal hardware. This allows them to control the quality of their products from start to finish.
Craftsmanship
Another factor contributing to the high price tag of Hermes products is the craftsmanship involved in making them. Each product is made by hand by skilled artisans who undergo extensive training before they can join the company’s workshop.
The process of making a Birkin or Kelly bag can take up to 25 hours or more. Each stitch is done by hand, and every detail is carefully considered. The result is a product that is not only beautiful but also durable and long-lasting.
Exclusivity
Hermes products are exclusive and not readily available in stores. This exclusivity makes them even more desirable for those who can afford them. The company limits production on purpose to maintain an air of exclusivity around their products.
In addition to limited production runs, Hermes also has strict policies regarding who can purchase their products. Customers must first establish a relationship with the brand before they can even be considered for a Birkin or Kelly bag.
Brand Value
Finally, Hermes products are expensive because of the value that the brand represents. The company has been around for over 180 years and has built a reputation for quality and luxury. The brand is synonymous with class and sophistication, and owning a Hermes product is seen as a status symbol.
Additionally, the resale value of Hermes products is incredibly high. Because of their exclusivity and durability, many Hermes products retain their value over time. In fact, some Birkin bags have sold at auction for more than $400,000.
Conclusion
In conclusion, there are several factors that contribute to the high price tag of Hermes products. These include the use of rare materials, skilled craftsmanship, exclusivity, and brand value. While not everyone can afford a Hermes product, those who can often see it as an investment in quality and luxury that will last a lifetime.