Here’s an update on some exciting things happening through 2021 and 2022 at Hermès!
Boutique Openings and Events
To start, they will be opening several new boutiques.
New York will be getting several boutique updates. First up will be a 3,000 square foot boutique specializing in fragrance, makeup, and accessories at the Roosevelt Field Mall on Long Island (as a native Lawnguylander, it’s “on,” not “in” LI, and can I tell you how far Roosevelt Field has come?? It wasn’t always a very, ah, savory place when I was a kid, especially at night, there were some weird design sections of this mall which literally went nowhere, and in the 70s and 80s, you might get a Nathan’s hot dog, OR you might get robbed. 50-50.) This boutique is slated to open in March 2022.
Then, in Fall 2022 (I’m told September), the Hermès Madison Avenue boutique is expected to complete its move diagonally across the street to a brand new space with the women’s and men’s stores once again be combined (as they were prior to the opening of the NYC Flagship in 2000 when the boutique was on 57th Street). The boutique is essentially moving up half a block to Madison and 63rd on the southwest side of the street from both the northwest (men’s) and northeast (women’s) corners of Madison and 62nd. I, for one, am looking forward to the party for this one!
Further, in 2023, Hermès is going to open another full boutique in Brooklyn, in the Greenpoint/Williamsburg area. This follows the fun and whimsical Hermèsfit event they held last month, showcasing scarves, fashion jewelry, makeup, and SLGs in an athletic-themed environment, complete with silk scarf punching bags, a Clou de Selle rock climbing wall, and a boxing (should be unboxing!) ring.
Elsewhere, Hermès is slated to open a 6,100+ square foot store in Princeton, NJ in the Fall of 2023, a 7,600 square foot boutique in Austin Texas (date TBD), and a 7,500 square foot space at Westfield Topanga in Los Angeles (2023).
Recent openings in 2021 include at the American Dream in East Rutherford, NJ, a 5,000 square foot space in Troy, Michigan, and another boutique at Aventura Mall near Miami, Florida.
Financial
Hermès, along with Richemont, has been added to the Euro STOXX 50 equity index. According to Reuters, shares in Hermès have risen by 90% in 2021 (with sales rising 31% in the 3rd quarter of 2021, and beating out pre-pandemic revenues by a staggering 40%), precipitating this promotion.
In addition, the resale market, particularly for Birkins and Kellys, has only gotten ever stronger over the past year. According to Forbes, the resale values and demand have been huge for the year, jumping 32% for Birkins and 47% for Kellys compared to the period 2018-2021.
In the World
Hermès is currently organizing its 12th Saut Hermès equestrian event, which will be at the Grand Palais Éphémère on Match 18-20, 2022. While this is usually an annual event, it has not been held for the past two years due to COVID.
The Financial Times reported recently that Hermès tops its ranking of European employers for its progress towards Diversity and Inclusion. The ranking is based on employees’ perceptions and experiences with the company.
30 comments
My wish for PB Santa is less Hermes posts in 2022!!! The are boring and you guys never did so much prior to @notoriouspink
My wish is for more experts in other brands as well as Hermès posts with great detail. I like posts from notorious pink! Thank you Ms pink!
By the way I love my silk n compact from your last suggestion:)
Silk’in
I have 2 and they are the best thinks ever!
Thank you so much!!! I’m glad you enjoy them. And I’m thrilled you love the Silk’In! ☺️
You may not like them, but you have to realize a lot more people do. PB posts for the masses, not individuals. Honestly, I don’t like some posts and I’m surprised when they receive so many positive responses, but I just move on to the next post.
Of course I moved onto the next post but I think they have limited posts and its a good opportunity to discuss other brands than these Hermes post after post repetition – its just my suggestion – doesn’t mean anything is going to happen
My wish for PB Santa is more posts from @notoriouspink. She’s the only reason why I read PB. Her posts are always informative, well researched and fun to read. It’s like having a girlfriend in the know. Keep up the great work!
Aw, thanks 💖
Hèrmes is one of the largest luxury companies in the world and a master class when it comes to luxury brand management. It’s reasonable that PB would post about them often. I’m happy that Notorious Pink is onboard to provide us with valuable information!
I’m confused by the sales increases in Hermes, this past year. My SA informed me that due to Covid they didn’t receive many Birkin’s or other products. What are people buying that increased Hermes’ profit margin? I have seen that bag prices are astronomical on the second hand market, but those sales can’t be factored into Hermes increased profits, right? Thx.
With the quota bags are limited, the competition to get an offer will actually increase. So people are purchasing more items in order to get an offer.
I understand, but my question is “what are people buying” that increased Hermes profits? My SA said production of all products are low due to Covid.
I haven’t noticed a stock decrease to be honest, but I don’t buy anything “quota” so shortage of Birkins is something I’d never notice anyway. But for RTW, kitchenware and SLGs, it’s as sparse/plentiful as others. Even years ago it’d take ages to find the exact dinnerware I wanted, and it’s always been super easy to find SLGs, same today.
Well RTW and jewelry are a huge push at the moment. The comment I have heard is people wanting to get diamond watch to get a normal Kelly 25. So those are the areas where H can make easily profit.
Leather goods are the largest drivers of revenue for Hèrmes followed by RTW and accessories. Items are still being produced, otherwise H couldn’t have such record breaking numbers. RTW alone is up 49% from 2019 for example:
https://assets-finance.hermes.com/s3fs-public/node/pdf_file/2021-12/1638900030/20211208_presentationanalystday_va.pdf
There are so many departments, from RTW and home to makeup, fashion and fine jewelry, crystal, etc. (I touch on these areas, but try to keep the main focus here on leather goods) I shopped at H for maybe 15 years before I even looked at shoes. And in NY there have been lines outside the boutiques just to get in. It seems the departments have expanded to have something for everyone, and people seem to appreciate the quality and design aesthetic. Also bear in mind that the US is not the #1 (or even #2) market – China is about 40% of sales…the entire US has the same number of boutiques as Japan! So there is a lot we might not be seeing here.
Very good text NPink. Thank you.
Thanks! ☺️
Guess Scottsdale has been scrapped yet again…SMH.
Unfortunately I haven’t been able to find any confirmation for Scottsdale yet, but will let you know if I do! 🌸🌸🌸
Rumors for YEARS – but never anything materializing. I wonder if there’s just not a great market for it?
I thought there’s already a location in Scottsdale?
I remember driving all the way from Brooklyn is Roosevelt Field in the early 2000’s!
It’s gotten so much nicer over the years! 😅
@ZSG. Yes me too! Boy things have changed,
Hermes has always been a great product, but .. a Boxing Ring and a Rock Climbing Wall??? .. WHY? IMO that is not something that one would associate with the Hermes product; a sports store? .. yes, but Hermes??? = NO!
Great to hear that they are doing so well, but .. WHO HAS THE $$$ to buy their products during a pandemic???
It was just a fun, free experience. Over the years Hermès has put on a number of traveling shows, from Carrè Club to in-persons with their scarf artists, the Dip-Dye Laundromat (to refresh old scarves), and Petit H. It’s promotional, to be sure, but there was no cost (including the refreshments).They are known for making amazing leather goods across fields, including a famous pair of boxing gloves. While I wouldn’t exercise in their sneakers, its good to be a bit expansive and creative, too.
Hopefully I can get into the new flagship store soon as I have a 70s version of the 2000 that needs repair and I’ve been turned away from Madison Ave. several times. One more chance or I will just go to a regular restoration place.