Monday, 18 January 2010
In the US, many European luxury brands are hurting. But not Hermes, if you believe a recent article in the Las Vegas Sun.
The article discusses how Hermes is bucking the trend in Las Vegas by opening a new store. And sales have risen at their other Las Vegas store, at the Bellagio.
Hermes USA CEO Robert Chavez said, “Our business almost doubled in the city last year in the year of one of the worst recessions there has been in a long time. It is pretty incredible to see that type of result.”
Chavez also noted that people’s buying patterns have changed in a way that benefits Hermes. He said, “That is where that limited distribution and quality of craftsmanship we represent (benefits us). Instead of spending $200 and buying three things (at a store), they may say ‘I want one really nice $400 scarf at Hermes because I know it will be classic and last me season after season. I can give it to my daughter and she can give it to her daughter. I think there is a great appreciation for that type of thing.” Definitely true in our eyes.
Who's behind the MO DOWN
Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury, www.moluxury.com.au