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.

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psny15
psny15
11 months ago

My wish for PB Santa is less Hermes posts in 2022!!! The are boring and you guys never did so much prior to @notoriouspink

Last edited 11 months ago by psny15
Ivory
Ivory
11 months ago
Reply to  psny15

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!

joannadyne
joannadyne
11 months ago
Reply to  psny15

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!

Ann
Ann
11 months ago
Reply to  psny15

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.

psny15
psny15
11 months ago
Reply to  Ann

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

Amelia
Amelia
11 months ago
Reply to  psny15

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!

Amelia
Amelia
11 months ago
Reply to  Amelia

By the way I love my silk n compact from your last suggestion:)

Donna Bowers
Donna Bowers
11 months ago
Reply to  Amelia

I have 2 and they are the best thinks ever!

Amelia
Amelia
11 months ago
Reply to  Amelia

Silk’in

Ann
Ann
11 months ago

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.

Vera
Vera
11 months ago
Reply to  Notorious Pink

Very good text NPink. Thank you.

James
James
11 months ago
Reply to  Ann

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.

Ann
Ann
11 months ago
Reply to  James

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.

Ivory
Ivory
11 months ago
Reply to  Ann

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

James
James
11 months ago
Reply to  Ann

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.

Ed B
Ed B
11 months ago
Reply to  Ann

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.

TKS
TKS
11 months ago

Guess Scottsdale has been scrapped yet again…SMH.

Vivn4
Vivn4
6 months ago
Reply to  Notorious Pink

I thought there’s already a location in Scottsdale?

TKS
TKS
11 months ago
Reply to  Notorious Pink

Rumors for YEARS – but never anything materializing. I wonder if there’s just not a great market for it?

ZSG
ZSG
11 months ago

I remember driving all the way from Brooklyn is Roosevelt Field in the early 2000’s!

Stephanie Saint-Cyr
Stephanie Saint-Cyr
11 months ago
Reply to  ZSG

@ZSG. Yes me too! Boy things have changed,

Claudia J Long
Claudia J Long
11 months ago

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???

Donna Bowers
Donna Bowers
11 months ago

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.

A Prada Holiday