While once the dramatic plot twists at Hermès might have been worthy of one of Shakespeare’s more lurid dramas — in particular the resolution of a court battle, in 2014, in which the group fought off the possibility of a hostile takeover by Bernard Arnault’s LVMH group by persuading family members to pool their shares in a holding company that forbids them from selling for 20 years — the present mood at Hermès is akin to one of the Bard’s bucolic pastorals.
He extends the same freedoms to the group’s store managers, each of whom has free rein to pick what they want to carry in their store with scant regard for minimum orders. “The buyer has all the power,” says Dumas, “every store manager has the ability to decide his own assortment.” It sounds bonkers, but it works.
Another hot topic, sustainability, is also an area in which Hermès has found itself a leader. “I do believe, and you can challenge me on that, that at Hermès we are much more part of the solution than the problem,” says Dumas of the environmental issues now plaguing the business of fashion. “First of all, we have the utmost respect for the natural material that we use, and that can only work in a sustainable environment in a relationship with nature.
...and exceptional pricing based on snob value.
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