Why Everyone is Spending at HERMÈS and NO OTHER BRANDS...
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- เผยแพร่เมื่อ 28 ส.ค. 2024
- So there's a slow down in luxury fashion - the brands are saying that their growth is coming down, most brands except for one...Hermes, but why does Hermès seem to be immune from these things? Why are people shifting their spending from other luxury brands towards Hermes? What does Hermes have that the other brands don't? So let's do a little deep dive shall we..ENJOY!
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I think the random price increases are catching up. Hermes hasn't seen the wild price increases and their true customer base can afford it. LVMH brands have turned away a lot of their smaller customers
Yes!!
Their base prices r elevated to begin with.
It is the benefit of a family-owned brand that they can be less 'greedy'. They are already wealthy they don't need to push sales to keep shareholders happy.
When Hermes opened in Dublin (years ago) I happened to be at a nightclub smoking area and got talking to one of the family members, he didn't say who he was until we got into a deep conversation. Very unassuming which always left me with the impression of 'quiet class'. (think I have just named a new trend :))
Omg this is a GREAT STORY! 🤩🤩
True class.
I totally agree with you Cassie! Hermes’ quality of product and the fact that they are secure in their brand’s identity will always make them successful. They have also successfully warded off being bought out by other conglomerates for years! One of the last family owned luxury houses is something to behold! They agree that “ if it ain’t broke don’t fix it”! ❤
YESSSS
Chanel is also family owned.
❤
I don’t think Hermes’ financials would look anywhere near as good if it wasn’t for the pre spend to get a quota bag. I think a lot of the things people buy at Hermes to get a quota bag are things they just wouldn’t buy if it wasn’t for the bag. But perhaps that speaks to how desired the bag is - it certainly helps the brands bottom line to have people buying blankets pillows and fashion jewellery they would forego if they could just buy the bag!
Like an SA told me at Hermès in Paris, we are first and foremost a quality house. When most of the other brands focus on luxury first, Hermès takes a huge pride in quality. It’s so rare now that they get our heart, because if we put that money down, we want the best quality for it to become heirloom. That being said, after getting many bags and all sort of things from Hermès, I’m ready to move on a little or at least, slow down by a lot. It’s kinda always the same style and because it’s quality, it last for a long time.
I do agree with you about Hermes after care service. I saw a TH-cam video where a young lady @ifeyinwa received her mother's Birkin. She took it to Paris to have it restored! They brought the bag back to life and the cost seemed reasonable. This reassures me that even though the bags are more expensive, Hermes stand by their bags and they will be taken care of.
Exactly!!!
i hate to say too many good things about Hermes and drive up the demand even more but Cassie you are absolutely right about the superb after care service. I’m quite a clumsy girl and i have broken (yes, broken) a ring and an earring (no fight was involved lol) and when Hermes couldn’t fix it they gave me a credit note for the full sum i paid for those items. If this isn’t service i don’t know what is. yes, it costs a pretty penny but you get what you pay for.
I'm sure their perfume and makeup is now helping their bottom line and their fan base multiplication....smart expansion on the cosmetics and releasing a few pieces at a time with interesting branding/graphic design choices
Yes that's so true!!!
I think these other brands who try to copy, increase their prices and/or play the “we will add your name to the wait list” are late to the Hermes game. Their products are not that sought after, because we can go to another store and buy something just as nice. We’ve become a people and maybe always have been, a people who want what we can’t have.
It’s the weirdest thing but Hermes feels way more affordable than other brands. I don’t buy to resell but if I want a great pair of boots they have great ones for 1200 1500 - I’m not going to Fendi or LV for some garish pair of boots that are out of style in one year and COST MORE THAN HERMES.
Hip hop and influencer kids don’t get enough clout out of Hermes so they don’t want it and I don’t want the hype they get from typical luxury brands.
That’s why I’m buying more and more Hermes. You get every penny out of the shopping experience. ❤
Great video, Cassie! One other observation I noticed is that affordable contemporary brands are on the rise because of luxury brands’ continuing price increases and people are opting for more affordable or “dupe” options, like Polene, APC, etc.
Yes! That's very true!
Bingo
Honestly it’s not just the bag… but it’s the overall quality of most if not all of their items!
From silk scarves to home wear to the bags; it’s just all so nice quality. Even their furnitures are really beautiful crafted. Some items are a miss but honestly if majority of their items are top quality I’d rather just go spend my money where I can see the quality.
I feel like at this point I have all the YSL, Gucci, Vuitton etc pieces that I have wanted. So the next level would be Hermes when I think about putting together a collection. 🛍
💖💖💖
This exactly
The reason customers r shopping at Hermes and not others luxury brands aside from quality is their selective manner of selection. I don’t like that, so I wouldn’t be interested. U have to figure in price when u arrive at your bottom line.
I tried a Bvlgari serpenti top handle and was blown away by its quality this week. So many colours exquisitely made and priced well below others
Agree Bvlgari and Bottega have great quality bags
My comfort youtuber Cassie and I really really obsessed with your daily videos🥺🥺💖💖
Omggg 🥹💖
The number one reason I shop at Hermes is QUALITY. Secondly, the way I'm treated! I was shocked at the high level of service I get. I don't have a quota bag and I haven't asked for one. I'm no where near being a VIP. I've heard horror stories about Hermes but so far it's been a great experience for me.
I’m so glad you’ve been having a wonderful experience!
They still haven't offered you a quota bag yet, yet you're saying high level of service? Lol okay.
Pretty much agree with these points. 1.) Hermes clients are not recession sensitive. If you can spend $10K on a bag, the likelihood, you're impacted by a recession is slim. There's economic theories on this but it just boils down to wealthy people are not impacted by price changes the way lower income earners are. 2. ) Price increases at other brands and I also think you didn't include this, but the rise of contemporary brands like Polene and the resurgence of coach have definitely cannibalized some luxury sales. It's weighing whether to buy Prada nylon or a much cheaper similar style bag from a contemporary brand. 3.) Covid spurred a lot of younger customers towards luxury and that has waned. Since people weren't travelling or going anywhere, they could put that money towards a luxury piece. At the time, you couldn't even eat out so most people had pretty high disposable incomes especially if they were working remotely.
I am happy to hear that lux brands are slowing down ..maybe it will prevent the crazy price increases ..as far as H is concerned ..it’s all about the scarcity mindset ..they don’t give into satisfying your desires and wants without extracting their pound of flesh in pre spend.
Hermès did experience at least one serious slump during the 1970's when they were considered seriously stodgy and out of touch. They may fall out of favour again, but they are resilient.
1970 was 50 yrs ago. They learned something.
I think they’re smart nowadays about seeing the overall trend of small bags and creating bags like the mini Kelly
Am I the only one that automatically like the video before it starts playing?? Love me some Cassie 🖤
Love that 🥹🥹💖
I think the reason people are spending at Hermes is because 1) Birkens basically have sure high resale value compared to other brands 2) you need to spend to get the Birkens. In an economy where every other investment area is losing money- people are turning to quick 10k flips
I think chanel resell value went down. The resellers who were buying up these bags to sell and make more money saw they weren't going to make a profit anymore turned to hermes to get offer bags to resell and make money that way. So chanel did also lose their reseller customers who just bought the bags to flip them. Instead the resellers are trying to get hermes to flip now. Then the superfakes of hermes came into existence to make it even more complicated .lol.
@@kellyanderson6889true stores like Redeluxe are moving into Hermes bags
I think there s a major Hermes bubble going on.
Too many people buying for resale is gonna flood the secondary market, especially in this current climate.
See, your economics degree came in handy after all 📈 📊 💰 👩🏽🏫
Those Vivienne shoulders are giviiiing! 💞
Hahaha my professors are proud of me I’m sure 😂 and thank you, I love this top so much! 💖
i think, the key to success for hermes is that the brand does not follow the trends, which makes them stand out. other brands are so obsessed with trends that their products are similar (probably, they use the same trend analysts who in turn use the same data. remove a logo, and you will not distinguish gucci stuff from lv stuff).
Good point, a lot of the brands have done the half moon bag or similarly shaped bags all at similar times
You acknowledge your economics degree on this video but I love how it’s put to good use on all your analysis of fashion trends and reports. 🤞🏼
Even though I would never buy Hermes I like watching you channel you have a way of talking about luxury yet with a certain humor.
Exactly! Why buy questionable quality from Chanel when you get something from bottega or Hermes that will fix items & costs relatively the same 😭
I hear you 💖💖
Hi Cassy! I love when you put your economics degree in fashion news. This is a content that I can not find somewhere else, please continue and thank you 🙏🏼🌺
That Vivienne top is so beautiful on Cassie.
Aahhh thank you! I love it!
Even Hermes will slow down soon. Too many on the second hand market now.
Hm I think the prices of the second hand market will stay the same or lower with lots of bags, but people buying from the store will still be happy to be getting one or two bags a year
I've been splashing out at Primark
Thanks for featuring me in your video ❤
As someone who has worked in luxury for decades including Hermes for 12 years I can tell you that what you're saying is pretty on point. One main thing you may not know is that Hermes controls there sales figures. Hermes sales strategy is very unlike LVMH. LVMH want numbers. SELL SELL SELL. While Hermes likes to hold back when they hit their annual sales goals. While November and December might be the busiest months to brands. If your Hermes store has hit there sales goals for the year early you'll notice much less product available at your store. And once the new year starts you'll notice your store become flooded with product. Because for Hermes a steady growth year after year is far better than the many peaks and valleys your favorite luxury brands deal with. Shareholders love this because you see Hermes as a brand that has long term growth year after year and is very stable. Unlike Kering and LVMH where when it's good it's good, but horrible when it's bad.
Loved this video! I have to say I’m not sure I buy the ‘increased awareness/knowledge’ argument. I think that if you make enough money to shop at Hermes, you probably knew about Hermes before it became super popular (‘wealth whispers’ and whatnot). The only people I can think of that that applies to would be influencers/reality stars/love islanders that become famous very quickly and suddenly have insane money to spend and want to buy something super nice. But this is all just my opinion so what do I really know lol
I enjoy laughing manically along Cassie and saying NEVEEEAH after she asks when are we going to rehab. 😂 My quilty pleasure 😈💜
For many ppl I know, their reason is mainly bc tho the prices are few times higher than other brands, so is their resell value. Ppl don't want to hang on to items which have no value..
I love your Vivienne Westwood corset top!!
Thanks so much 🙈 it’s so pretty!
The Birkin was $4,000 back in 2003. Twenty years later, that same bag is now *starts* at $16,000… a 400% increase.
The Chanel Classic Flap was $1,650 back in 2005. Today, a classic flap will set you back $10,200… over a 600% increase! And the quality just isn’t there anymore. No more 24k gold-plated hardware, what is it now? Cheap electroplated brass? Even the leather quality has declined and they have other quality issues with seams/quilts not lining up and uneven stitching.
Hermes is expensive, but you’re right, it’s the least greedy of all the high-end brands, and at least all of their bags are still hand stitched and their leather is butter.
Love hearing your take on things! The current quiet luxury trend would have my Dad on board. "Keep a low profile, child, keep a low profile"!!💞😇💞
As always, so informative and it shows that you care to do your homework before filming! And the Vivienne Westwood top looks stunning ❤
Awww peek the wedding baaaaag 🤍🤍🤍
So happy to see another milestone.... 134k. Congrats, well done...
How pretty is Cassie, does she want us to pay attention to her luxury reviews, or to how she always serves! Lol
Love this kind of content Cassie, I always learn so much about the ins and outs of fashion thanks to your videos. Btw, that new cardigan looks stunning on you! Keep doing what you’re doing ❤
I’m not a big spender at Hermès, I have like few pair of shoes, slg and belts. My Hermès for quota bag journey started on 2021, I’m getting 1 per year so far thanks to my SA, she is an angel. I’ll be getting my third quota bag on Saturday. Not to mention that my second one was a “à la carte”, it is an absolute dream ! Instead of buying other brand, I basically save up for Hermès. Because I know the quality is incomparable and I won’t lose money if I’ll ever need to sell them. I hope that day will never come.
A special order? Very cool ;)
@@Skyebright1thanks, not this time but the previous one was indeed a special order
I think Hermes will be timeless for the people whove always loved it, but the crazy coverage on social media will die down more like a trend. Great video!
Cassie right off the bat- something about your face or the way you do makeup makes you look younger in this video than in others! May I please know what it is?😇
Yup! You allude to it in the video that in an economic downturn, the middle class has to save money, whereas the rich stay rich or get RICHER. And we could get into all the reasons why that is and why that causes the gap to continue to widen, but I digress 😅 People who can regularly afford Hermes will generally always be able to afford it.
Yassss honey! Put that economics degree to work! They are at the top of their name because their designs are spectacular & excellent quality.
People want the exclusive bags and know they need to spend to get them. The quality is better and the branding is strong.
You are soooo right.I only showman Hermes now .The quality in second to none!
Great analysis! Love it when we get Econ 101 with Cassie! I think the transitions of fashion directors plays a huge part in fiscal quarters in any industry or company. Usually dips in financials occur with that kind of transition. I think the more trendy designers maybe take that risk with more frequent design ideas maybe anticipate that kind of dip in financial returns as compared to Hermes. The first I ever heard of Hermes was from the movie Le Divorce with Kate Hudson.
I need the amazing after care service! I’ll pay the reasonable price! I have had to depart on some beautiful pieces for not have being able to restore it. I love your videos Cassie! You’re the top modern fashion luxury content creator. ❤
Hi Cassie! Would you think about doing another quiet luxury video? I love Selena Gomez’s look from the Brittany Mahomes & Taylor swift date last weekend. It was a vibe!
Every time you post your spot on I love how you keep us informed
That top looks amazing on you Cassie such a good buy
Not sure what’s different with your makeup but it looks amazing❤ great video as always
I did a half liner!!! So glad you like it!!
The aftercare is AMAZING
FENDI will also repair your pre-loved bag if you bring it over to the boutique. They have a price list for the different types of services available and will provide you with quote for service beforehand. Bare that in mind!!
I am very curious, how much was the repair service for Alyssa's Kelly?
this needs to be more of a thing. Besides one specific brand of shoes, I buy all my luxury second hand and I would always prefer them to be repaired by those who once made it.
Like you said, Hermes fits in the quiet luxury sphere and is classic in that they stay true to their own identity, so it is bound to do well, as a well known example of exactly the kind of items you should be looking to buy if you want quiet luxury (buy better, but low key). I wonder how much Loro Piana has grown this year though, as it is also even more so of a poster child for quiet luxury, and LV has been ramping up marketing for it. I’ve been priced out of Hermes for a while now (the game is too expensive in Asia, and i own a B&K now), but am looking to add a LP vicuña sweater into my life. I don’t need a warm sweater in this climate at all, but vicuña is sooooo soft it’s worth turning the AC up a little to enjoy it 😂
Great video, Cassie. I always was Chanel girl, but i am thinking of getting mini Kelly, and i am thinking to get in the color, that i would not like Chanel bag in🤔. Maybe red, which i dont see too often. I saw vintage one, in that real lipstick red😍, but its way too expensive😂. Have a blessed day. 🙏❤️And your makeup looks so beautiful today, its that makeup no makeup flawless look🙌
yeah maybe ultra-rich people buy them as collectibles and more investment pieces - you also have to think about their prices - current prices and the previous ones - may attribute to the increase in gross sales.
Another great video!! I have been to the stores and honestly I haven’t connected with any SA so I have not made a purchase. I feel like if you don’t pick a good one from the beginning it can be a bad experience. And to change SA is not easy. I’d rather start my journey on a good note. But Hermes quality is great, over priced for the brand alone but still good quality.
That’s a good strategy - start as you mean to go on! 💖💖
💚💚 and you know exactly what to expect from Hermes, it’s always such a surprise when that offer comes through, love the brand always have always will.
Love your videos. Gives me a little break while I am at work. 🙂 Bonus I get to learn so much about fashion.
Ahh I’m so glad you enjoy them Melanie!
Thst corset + hair gives you Bellatrix Lestrange vibes😂
Love you so much Cassie you always brighten up my day and always make me smile you will always be my favourite TH-camr and my inspiration hope your having a beautiful week ❤❤❤❤
Thank you Cassie! I needed this video so bad!! you are the one and only highlight (being overly dramatic here, haha) on mondays, wednesdays and fridays ♥. Please keep doing what you do and continue to grow because i don't know what i would do without you and your content, haha.
I’m just so happy you like my videos and that they’re a part of your routine 🙈💖💖
@@CassieThorpe Literally wouldn't know how to survive a week without them!
There is also a certain amount of legitimacy there- they do what they do well and the customer can count on that
Not 4 bag drops per year, obnoxious new straps (hmmhmm LV), bad re-issues, overpriced novelty pieces etc. it almost becomes insulting.
LOVE the Westwood Cassie, classy AF 😍🥰🤩
I refuse to play the Hermes games. Not hating on the people who are but that is where I draw the line.
Completely understandable!!
Maybe something that you didn't touched on Hermes is also their very clever strategy based around the success of their 3 blockbusters bags.
To almost "force" people to purchase items they wouldn't want in order to be able to be proposed the opportunity to get a Birkin or Kelly was beyond clever.
I also think that their strength is their absence of marketing. No gifts and a kind of cult that has transformed fans of the brands into total ambassadors. No celebrity endorsement, No official ambassadors. Their absence of marketing has become a marketing in itself.
Came here to say the "other brand prices hikes/are greedy" thing 💯👏
Are you excited to bring out your Fall Birkin! Can’t wait to see how you style it 💛
I am!!!
I think maybe prestige would be a more fitting word rather than hype? The thing with quiet luxury is that it, at minimum, will be a "trend" for as long as the recession is a trend...I've been hearing some alarming things coming out of China, high unemployment rates among the youth and the "lying flat" movement...obviously the Chinese largely dictate the luxury market and I think they're leaning towards items that can be worn season after season
Gurrrrl yes yes ❤❤ the price increases by Hermes are reasonable in comparison with other brands
I’m starting my Hermes journey too 🎉❤
Plus it just feels extra good when you’re wearing Hermes, may it be the bags, the belts or shoes. Glad I scored the very hard to get Chypre.
OMG Cassie, where is your Plum Birkin❤❤😮😮
Interesting discussion! I’m for one is trying to sell a Chanel Jumbo on Saclab and it’s hard to get it sold. Will make a huge loss 😢 Bought it in 2021. My Hermes Kylly 25 though, that one sold for a great price in a couple of days. Lesson learned! 😘
Oohhh I’m so sorry it’s proving difficult to sell! But it’s very interesting comparing to Hermes 👀👀
Love the eye makeup Cassie! And I must say I quite like Hermès, as a French it’s just a classic isn’t it?
Very true ❤
I love that too Cassie!!! I’m so happy you bought it! You look amazing ❤️🥰✨
I think the word you were looking for was CULT FOLLOWING! Haha “hype” was indeed not as powerful of a notion and the “Hermes game” really feels like a cult 😅 not so much in a bad way but people do everything they can to get that QB offer!
I used to be scared to shop at Hermes but Chanel prides sent me there! Thanks to Chanel I have Hermes bags now
I think part is quality.. the care and craftmanship is there.. while Chanel is going downhill, Hermès stays steady. Have never heard of issues with H-bags ..
Same!
Very true.
Did I miss something? What happened to your other Birkin? The plum one?😊
I still have her - she's just on the top shelf hahah 😍
@@CassieThorpe ahhh well she is definitely a top shelf queen!!🤣💖
I don’t know if this also worth noting but I have never had a bad customer service experience at Hermes even when I was just browsing.
I should do a scholarly journal article on these financials 🧐🤓
THAnk you
you look gorgeous today cassie, luv the vid !
Aahhh thank you! 💖💖
Cassie, did I dream it or did you get an Hermes Birkin in Rouge H a while back? Did you give it back? Just havent seen it on your shelf….or did I dream it? It would be perfect for Autumn.
She talked about lending it to Christian, I don’t know if she ended up selling it to him or something
Hermes is not majorly owned by luxury conglomerate. It is owned by family. They see it as their legacy and not like cash grab to make impressive results for shareholders. They approach their products with certain ethics in mind.
Yeah they made sure LVMH couldn’t buy the company
The picture you showed with Grace Kelly- do you by any chance know the exact specifications of that bag in the pic? I think it's a Kelly 35 in Black Box Calf with Palladium hardware? But I could be wrong, just wondering if you knew.
this is the era for Hermes in a way coz LV CHANEL had its glory days and it too will come to pass with the luxury kinda going slow globally. TH-camrs are selling bags obviously to buy an Hermes bag haha just an honest observation after their vlog sale.
Agree a lot of TH-camrs are moving into creating basically a Hermes handbag collection
How a chanel bag is a competition to a bikin or a kelly? In what way? Hermés is on a league of its own
You’ve certainly convinced me of the accuracy of your perspective.
💖
I was watching the video before clicking on it, so it was muted. I was thinking this girl without hearing the accent reminds me of Jennie from the block.
“HYPE” ==> “HYSTERIA” 😅
QUALITY
The drop of Kering might have more to do with trend changes than any recession. Gucci is the epitome of a logomania brand.
True!
Speaking of! I don’t think I missed any videos…what happened to the other Birkin you got a few months ago??
She lent it to Christian last I heard, I don’t know if he ended up just buying it from her