Feb 13, 2013 5:13PM

Hermès Is Killing It

They reach record sales thanks to their $10,000 Birkin and Kelly bags.
Sneaky Sex and the City reference if I may.

French fashion house Hermès is officially big pimping as it reaches record sales. 2012 sales are up by 23%, equating to an annual revenue of $4.66 billion — and this is mostly thanks to an increase in sales of its Birkin and Kelly bags which cost an average of $10,000. Apparently a lot of people have 10G to drop on arm candy.

By limiting the supply of these bad boys (obtaining one involves being placed on a waiting list), Hermès has gained control over sales and created a strong demand for these signature pieces. Two new workshops opened in France last year just to keep up with the demand for the handmade bags which take 48-hours and a team of highly-trained fashion elves to create. As 50 Cent once said, "Your bitch cool, but where her Birkin bag at?"

Asia (excluding Japan) saw the largest demand for leather good sales, with an increase of 25%. Hermès have exceeded their own sales targets since 2007.

In other Hermès news, their collaboration with Comme des Garçons is now available to buy. The two have come together on a limited collection of six silk scarves which will no doubt fly out the door and find themselves worn by Kanye in no time. Check it out on OhLike now.

Via Bloomberg Business Week

Ingrid Kesa

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