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Hermès

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Hayden Hrncir

on 8 November 2012

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Transcript of Hermès

Hayden Hrncir Humble Beginnings Thierry Hermès moved from Krefield, Germany to France in 1828 as a refugee.
His leatherworking hobby turned into a profession.
Opened up a small shop in 1837. Thierry Hermès First Break Hermès began selling saddlery to local socialites and noblemen.
Arrival of the railroad allowed for expansion of his small business.
Word spread about Hermès' impeccable craftsmanship. Sons As Thierry's two sons grew into working age, they learned the tricks of the trade.
The eldest son, Charles-Émile, was the standout worker and was most interested in the business.
Thierry passed the torch to Charles-Émile in 1867.
Charles-Émile Hermès 1867 World's Fair The same year he attained the business, Charles-Émile and company won the Silver Medal overall at the 1867 World's Fair.
This was the first big honor the company had received. The Move In 1878, Thierry passed away.
Paris was reconstructing.
Charles-Émile decided it was time to move.
New space required no middleman and easy access to wealthy clientele.
Living quarters upstairs, shop downstairs.
This shop is still in business as the Flagship location. Sons Charles-Émile’s two sons, Adolphe and Émile-Maurice, began working in the shop upon moving.
They traveled Europe, Asia, and the Americas selling product to high-profile customers.
Both sons were interested in being part of the business. Hermès Frères In 1899, Charles-Émile decided to retire.
The two brothers bought the business and living quarters.
They assumed the name Hermès Frères and began to expand the product line.
The same year, they began making their first bags.
The haut à courroie bag fit all pieces of saddlery for easy travel. Trip to America In 1902, Émile made an important trip to the US.
He was saddened by the entrance of assembly lines.
Cadillacs used zippers to fasten tops to car bodies.
He contacted the maker of the zipper and cut an exclusive deal. The Hermès Fastener Upon return, Émile became the first person in the world to use a zipper on a bag or clothing.
With exclusive rights to use the zipper in that way, business boomed.
Other fashion houses like Chanel and Louis Vuitton brought their clothes to Hermès to apply what became known as the "Hermès Fastener". Émile Buys
the Company Though the brothers were close, Émile was more invested in the business.
Émile bought his brother's stake in the business and changed the name back to Hermès. Sons-in-Law Émile had four daughters and no sons to groom for succession.
However, when his daughters married, he began to seek an heir to the Hermès throne.
One son-in-law in particular, Robert Dumas, stood out.
Émile Hermès thoroughly taught Robert the ins and outs of the business. 1920s-1930s 1922: First leather handbags are launched.
1935: Famous handbag later named "Kelly" After Grace Kelly is created.
1937: Hermès scarves are born.
Watches, ties, and fragrances also were added to the product line in this era.
Throughout the 1930s, Hermès stores are brought to America, mostly at French resorts. Succession In 1951, Émile passed away.
Robert Dumas took charge of the company and changed his name to "Dumas-Hermès to honor the house and family.
He was the first person not directly descended from Thierry Hermès to control the business. Robert's Legacy Created the modern logo
Introduced the famed orange box.
Launched the first women's ready-to-wear line. Retirement & Succession In 1978, Robert passed the company to son Jean-Louis Dumas.
Though everything looked fine on the outside, Hermès was having financial troubles. Financial Comeback Jean-Louis knew what to do to bring the company out of debt.
Closed down franchises and opened more company-owned stores
Focused on ready-to-wear clothing
Hired avant-garde designers to expand upon the classic look The Birkin In 1984, Jean Louis Dumas created the iconic Birkin Bag after actress Jane Birkin.
These bags, famous worldwide, cost anywhere from $4,000- $203,150 and take years of waiting to obtain.
Going Public In 1993, Hermès went public on the Paris stock exchange.
Family still owned 80% of voting stock in the company.
Every member of the family entered the Forbes List of Billionaires. Retirement & Succession After 28 years heading the house of Hermès, Jean-Louis retired, passing the company on to the first non-family President, Patrick Thomas.
Many direct descendants of Thierry Hermès still work for the company and are on the Board. Drama Though the Hermès family still controls the company, corporate mongol LVMH is trying to buy enough stock of the fashion house to take control.
LVMH is owned by the Arnault family, another family in Paris who's main focus is taking control of luxury brands
Louis Vuitton, Moet, Hennessy, Fendi, DKNY, Christian Dior, Givenchy, Guerlain, Emilio Pucci, Tag HEUR, Veuve Cliquot to name a few...
A recent lawsuit opened by Hermès family members accuses the Arnault family of insider trading.
Time will tell if the 175 year old family owned business remains in control of their legacy. Works Cited www.hermes.com
http://www.faubourgsainthonoreguide.com/nosguides/hermes-a-saga-of-the-faubourg
http://www.lvmh.com/
www.youtube.com
Full transcript