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.
