Hermès (Audio)

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  • Опубликовано: 18 фев 2024
  • In luxury, there’s Hermès… and there’s everyone else. Stewarded by one French family over six generations, Hermès sells the absolute pinnacle of the French luxury dream. Loyal clients will wait years simply for the opportunity to buy one of the company’s flagship Birkin or Kelly bags. Unlike every other luxury brand, Hermès:
    - Doesn’t increase supply to meet demand (hence the waitlists)
    - Doesn’t loudly brand their products (IYKYK)
    - Doesn’t do celebrity endorsements (stars buy their bags just like everyone else)
    - Doesn’t even have a marketing department! (they barely advertise at all)
    And yet everyone knows who they are and what they represent. But, despite all their iconoclasm, this is not a company that’s stood still for six generations. Unbeknownst to most, Hermès has completely reinvented itself at least three times in its 187-year history. Including most recently (and most dramatically) by the family’s current leaders, who responded to LVMH and Bernard Arnault’s 2010 takeover attempt by pursuing a radical strategy - scaling hand craftsmanship. And in the process they turned the company from a sleepy, ~$10B family enterprise into a $200B market cap European giant. Tune in for one incredible story!
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    Visuals for:
    Haut a Courroies, the “high-belted bag” to carry saddles and boots
    images1.bonhams.com/image?src...
    Chaine d'ancre, “Chain of anchors”
    assets.hermes.com/is/image/he...
    Jeu des Omnibus et Dames blanches, “White ladies at play”
    i.pinimg.com/originals/61/ac/...
    Screen printing each color on a scarf individually
    3.bp.blogspot.com/-QjlwKL9D4MU...
    The Hermès oranges
    blog.fashionphile.com/hermes-...
    Sac à Dépêches (today: the Kelly Bag)
    www.hermes.com/us/en/content/...
    Grace Kelly photo in LIFE Magaine
    i.huffpost.com/gen/1457564/th...
    Steps to sew a saddle stitch
    2.bp.blogspot.com/-aaLc5iBboX...
    The Birkin Bag
    www.hermes.com/us/en/content/...
    Pettit h
    www.hermes.com/us/en/category...
    Links:
    The saddle stitch (video)
    • Hermes - Craftsmanship
    Inside the Saddlery at the Faubourg
    www.thedashingrider.com/herme...
    Hermès 2022 Annual Report
    assets-finance.hermes.com/s3f...
    Axel Dumas Interview
    • Axel Dumas, CEO of Her...
    All episode sources
    docs.google.com/document/d/13...
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    Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions.
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Комментарии • 62

  • @MinhPhan-sf9hk
    @MinhPhan-sf9hk 3 месяца назад +18

    Acquired FM is kinda the Hermes of podcast, such an insane level of dedication to the storytelling craft.

    • @GoeingBlouin
      @GoeingBlouin Месяц назад

      Thank you dear for taking us along. Can't wait what the *esluxscom* queen picked up at Fendi

    • @shotsontaylor
      @shotsontaylor 2 дня назад

      This is a fact!

  • @carterford6094
    @carterford6094 3 месяца назад +36

    I’m here to turn the Acquired youtube comment section around! Ben and David, you are true business historians and are providing a valuable service to the WORLD, thank you for this episode and the countless others that I have learned from

    • @GoeingBlouin
      @GoeingBlouin Месяц назад

      he variety of textures in the *esluxscom* pack is impressive. From smooth leather to textured suede, there's something for everyone.

    • @ShalandaDerbyshire
      @ShalandaDerbyshire Месяц назад

      Mi neniam estis seniluziigita kun *esluxs* bags tote. ?iufoje kiam mi uzas mansakon, mi sentas, ke mi posedas arta?on.

    • @jiwang441
      @jiwang441 17 часов назад

    • @jiwang441
      @jiwang441 17 часов назад

      ❤Q

  • @peterkorsten
    @peterkorsten 3 месяца назад +9

    Just absolutely totally amazing storytelling. You folks have redefined what great podcasts sound like. Depth, warmth, breadth, humor, connections: WOW! Thank you!

    • @ShalandaDerbyshire
      @ShalandaDerbyshire Месяц назад

      magine, even if you pay a high price for a genuine product, it may not even be certain if you will get it. It may be counterfeit *esluxs*

    • @DebroKoria
      @DebroKoria 29 дней назад

      The variety of textures in the *esluxs* pack is impressive. From smooth leather to textured suede, there's something for everyone.

  • @karenscookingkorner
    @karenscookingkorner 3 месяца назад +9

    My new absolute fav podcast! Seriously thank you for the hard work put into every video you do! Outstanding job

    • @GainsBernson
      @GainsBernson Месяц назад

      And one last thing. I get sooooo irritated when YT’ers and others say things like “don’t by a Neverfull because its so basic and everyone has one and half of them are fake “. I call bullshit. Who cares if its fake or real.Bought Gucci Marmont bag on *esluxscom* , I am honestly very satisfied with this company. Maybe the best I ever bought a bag from. Peace

    • @BanaszekHuckaby
      @BanaszekHuckaby Месяц назад

      Regardless of the *esluxscom* bag or any other factors, I ardently hold that without proper expertise, one would fail to distinguish variations in the sack's appearance or metal parts.

    • @ShalandaDerbyshire
      @ShalandaDerbyshire Месяц назад

      In fact, this is usually not the price for locals... locals usually get more cheap at *esluxs*

    • @JanelNiebergall
      @JanelNiebergall Месяц назад

      I have “real” bags and a lot of them. I have a friend who buys the *esluxs* we put them side by side and guess what ?! It’s unbelievable!!! I am at the Chanel boutique with her and no one can tell she has a fake

  • @maximusmiles2615
    @maximusmiles2615 14 дней назад

    Fantastic podcast thank you for the service

  • @BayArea_650
    @BayArea_650 3 месяца назад +6

    Listened to the entire vid from start to finish, absolute gold!
    Thanks for all of the research that went into this one

    • @GainsBernson
      @GainsBernson Месяц назад

      Amei todas as bolsas lindas e de muito bom gosto.Parabens *esluxscom*

    • @BanaszekHuckaby
      @BanaszekHuckaby Месяц назад

      Me remembering nearly all the bags from the jag collection in *esluxscom* other apartment on the dimond tray.. I think i watched that video like 40 times. Purse collection goals

    • @ShalandaDerbyshire
      @ShalandaDerbyshire Месяц назад

      to be honest. If you produce at cost and remove the logo, the luxury market really isn't that expensive. The mark is about 80% of the actual price. But the fact that you are *esluxs* buying an image and showing off your taste to make them think you are richer than you are is a very good thing to do

    • @DebroKoria
      @DebroKoria 29 дней назад

      Me remembering nearly all the bags from the jag collection in *esluxs* other apartment on the dimond tray.. I think i watched that video like 40 times. Purse collection goals

  • @Ten_2_Five
    @Ten_2_Five 16 дней назад

    My first podcast was the LVMH episode which I immediately followed with this one. You guys did an outstanding job on both. Well researched and informative and at the same time very entertaining. An interesting angle on the LVMH story involved the role of hedge funds and prop desks in the Gucci deal. Although the arbs did not "control" Gucci stock leading up to the close of the deal, they did hold a very significant percentage of the free float. Every time Gucci had numbers the earnings call had more hedge fund arbs on it than any other investor class and both Domenico and Tom did an excellent job of "managing" their relationship with the arbs as they knew that their interests were completely aligned (i.e. making sure Pinault would close). If Arnault had succeeded a lot of hedge funds and prop desks would have taken a big hit. There was also a lot of arb interest in Hermes while Arnault was making his moves but not to the same extent as in Gucci as an actual offer had never been made by LVMH. Keep up the great work. Would really enjoy an episode on Rolex.

  • @ericcartmansh
    @ericcartmansh 3 месяца назад +6

    instant listen. This was spectacular! How far the show has come

    • @GoeingBlouin
      @GoeingBlouin Месяц назад

      The variety of textures in the *esluxscom* pack is impressive. From smooth leather to textured suede, there's something for everyone.

    • @GainsBernson
      @GainsBernson Месяц назад

      I love *esluxscom* that on the butterfly bag it says auguri / tanti auguri which means happy birthday

    • @BanaszekHuckaby
      @BanaszekHuckaby Месяц назад

      This *esluxscom* tote is beautifully colored, very sturdy and the perfect size. Not too small, not too big. I look forward to joining my rotation

    • @JanelNiebergall
      @JanelNiebergall Месяц назад

      Amei todas as bolsas lindas e de muito bom gosto.Parabens *esluxs*

  • @sydneyshields111
    @sydneyshields111 3 месяца назад +2

    This podcast is so important to my education. Appreciate the brand diversity

  • @jonquindiagan7625
    @jonquindiagan7625 3 месяца назад +2

    Thank you for sharing this!

  • @johnfrancke1943
    @johnfrancke1943 2 месяца назад +1

    This was such a great episode on so many levels. It was so interesting to learn about their business model and history!👏👏

  • @shotsontaylor
    @shotsontaylor 2 дня назад

    This is a great episode if you are remotely in luxury brands

  • @Ryan.G.Spalding
    @Ryan.G.Spalding 3 месяца назад +6

    Why you all release when I’m supposed to go to bed?! Bookmarked for tomorrow. 👍🏼

    • @OrwigZafar
      @OrwigZafar Месяц назад

      I really love your taste and style always so chic. My faves would be the *esluxscom* leather backpack and the Swarovski pave diamond ring so gorg. Thank you for your recommendations.

    • @JanelNiebergall
      @JanelNiebergall Месяц назад

      I love *esluxs* that on the butterfly bag it says auguri / tanti auguri which means happy birthday

  • @nitin276
    @nitin276 3 месяца назад

    I came across this channel about 2 months ago and only through this episode did I learn that you guys put out just one episode every month.
    On one hand I am happy that I didn’t find this channel earlier and now I can binge all that I want 😊
    On the other hand, I feel that after I am done with all episodes, I might have to stalk Ben and David, NSA style to figure out when the next episode will be coming out😂
    Jk….i love you guys!
    I came across your channel 3 months after I had been obsessed on researching the Blackbird and RUclips recommended your Lockheed episode!
    As a former Amazonian, I listened to your amazon episodeS TWICE!
    Keep up the great work. If Hermes were a podcast company then you would be the top métier😅

  • @cap4life1
    @cap4life1 3 месяца назад

    I love this podcast! This one, the LV one and Costco were my faves.

  • @DismasM
    @DismasM 3 месяца назад +3

    Outstanding episode. As much as I enjoy the tech and VC stuff, these luxury episodes really resonate. Great to hear the shout outs to Derek and Reginald (worlds collide.) Was sad to hear David and Ben figured 95% of listeners might not know who Jane Birkin was. (and @3:48:40 --- she passed away in July of last year so she's pretty much cool with everything now....) Just a quibble, guys. Please keep up the good work.

    • @OrwigZafar
      @OrwigZafar Месяц назад

      This *esluxscom* tote is beautifully colored, very sturdy and the perfect size. Not too small, not too big. I look forward to joining my rotation

  • @user-ok3kh3vj5k
    @user-ok3kh3vj5k 2 месяца назад

    I don’t miss a day a week kkuwan This show..😂😂😂😂

  • @ahuels67
    @ahuels67 3 месяца назад +1

    Very underrated channel

    • @OrwigZafar
      @OrwigZafar Месяц назад

      I was in Turkey recently and had a empriente multi pouchette with me. They show me a *esluxscom* bag and it looked just like it.

  • @catsaddictedtofish
    @catsaddictedtofish 3 месяца назад +3

    Hermès opened two new factories between Louviers and la Sormonne last year. and more factories are scheduled to open in the following years. Would Hermès maintain the sustainable growth with scarcity strategy to stimulate potential customers' desireability of Hermès ? it would be too early to tell.

    • @OrwigZafar
      @OrwigZafar Месяц назад

      Thank you dear for taking us along. Can't wait what the *esluxscom* queen picked up at Fendi

  • @RanDom-Interloper
    @RanDom-Interloper 4 дня назад

    I guess this was recorded before the Class Action lawsuit against Hermes for violating antitrust laws forcing customers to spend money on items they don't want, tens of thousands of dollars usually, in order to be favored with the opportunity to purchase a Birkin bag. In most cases, they don't get to choose the exact bag they want but only to take it or leave it from whatever is made available by their sales associate at that time. It's a coercive sales tactic to sell other products and btw, the sales associates DO NOT get paid a commission on selling a Birkin, but they do on all the other less popular items. So unlike Chanel which raises prices for the actual desired product, Hermes makes people buy things they don't want and say they don't charge extra for the Birkin. And the secondary market benefits because when people finally get a chance to buy a Birkin, it isn't the exact color or leather they want, so they end up selling it anyway. Personally a customer who can and is willing to pay extra and wait for the exact bag they want should be given a guaranteed opportunity even if it raises the price from say $12,000 to $30,000 instead of paying the difference in some unwanted items and a Birkin they don't want, just to buy one.

  • @ishansengar5920
    @ishansengar5920 3 месяца назад +3

    First 🥇
    Love your videos

  • @aminbusiness3139
    @aminbusiness3139 3 месяца назад

    Could you do an episode on Tiger Global & Chase Coleman III 😸

  • @DR......
    @DR...... 5 дней назад

    Is the LVMH video not on RUclips?

  • @samyueldanyo8679
    @samyueldanyo8679 3 месяца назад

    Great chemistry and a few incredible easter eggs. Thank you. However, I feel there were a few omissions. Tell me if you agree.
    1. Burkina are sometimes on display in Faubourg.
    2. Discussion on discontinuation of leather apple watch straps on Apple’s side.
    3. The 9% France sales is not really France - if you go in the Faubourg you would barely see any French customers there.
    4. I suspect the yearly hikes is less than 7% and actually probably close to inflation. Hermes have talked about a strategy of scaling production as well as providing broader range until a certain volume and then they could, if needed, hike more.

  • @Oxilorix
    @Oxilorix 3 месяца назад

    Please do Hasselblad

  • @drdremd
    @drdremd 2 месяца назад

    Among your finest. All hail the algorithm.

  • @Ryanandboys
    @Ryanandboys 3 месяца назад +3

    If you're into animal welfare and you should love large scale modern farming.. I don't know where or how modern farming in animal husbandry is or could be considered worse than nature for animals. In nature it's absolutely brutal a huge percentage of a similar species to cattle which would be deer get eaten alive every year or die slow painful deaths due to starvation or disease all of which can be avoided if they're on a farm. This is like analogous to saying how evil it is to raise your kids in your home and bring them to the doctor and send them to school because we're not in nature the way we were a thousand years ago it's just an idiotic argument. Animals love being in Barns and protected and fed. I am a dairy farmer when we open up the barn in the summer so the cows can go out the pasture they go and run around for a little bit and then they get bored and come back in the barn to stay cool dry and heat and drink. 99.9% of cows that get out run around for a couple hours and then come back into the barn on their own because it's where they want to be. Just like how us humans who love to be in nature go hiking we also love to go to restaurant eat after and come back and sleep in our house and use modern medicine if we're ill.

  • @JaydonTobler
    @JaydonTobler 8 дней назад

    Hey guys, quick thing: Veblen Goods aren’t a real thing. It’s not about desirability; it’s about actual economic transactions that take place.
    A Veblen Good would be giving someone the option to buy one of two identical handbags, but priced differently arbitrarily and them purchasing the more expensive one simply because it’s more expensive.
    Imagine a sales associate puts two identical bags and says “this one is priced at $12,000 and this one is priced at $20.” If these were Veblen goods, then you would actually buy the $12,000 bag precisely because it was more expensive.
    What’s really happening is that branding/quality/signaling make goods more inelastic (steeper demand curve), but the curve never actually flips to be upward sloping.
    In fact, my Econometrics professor even said that the simplest way to win the Nobel Prize in economics is to find any good that violates the law of demand because no one has ever found one.

  • @azndreamerboy
    @azndreamerboy Месяц назад

    1:20 reject manu efficiencies and scale, dedicated to craft, remained independent vs other luxury brand mergers
    5:00 still do 85% production by hand in france
    6:28 french revolution
    7:50 Hermes and LVMH founders came from nothing
    8:55 apprenticeship for outfitting horse (car equivalent)
    10:14 elite ride horses like they do ferraris today - occasional
    11:05 another coup in France under N III - modernize city - in old streets, can’t see nobility often - now you can with new venues, elevating importance of showing off status; status no longer about what class born into - modern idea can allow class shifts
    14:44 key anchor client: wide of napoleon for carriages and luggage (LV)
    15:55 key strength in routing brand in history and horse / carriage era
    16:40 family apprenticeship through generations - made items with hands - diffs from LVMH
    18:35 key differences vs LVMH: world class execs paired with world class designers; at H these are one and the same; apprentice as creative craftspeople
    19:35 late 1800’s, added saddles - can now be seen in public
    22:00 lands tsar of Russia as customer
    22:54 add high belted bag to carry saddle and boots - looks like berkin and kelly but bigger - heritage of bags today
    25:23 chase payment business
    28:50 transition to auto age; met Ford, realizes importance of car
    32:00 gets exclusive license for zipper makes first zipper products
    34:45 bags for autos
    35:22 impact of global travel in 1920’s - showing products
    36:40 product is differentiator not brand
    36:45 launch of handbag and clothes
    37:45 adding by finding expert craftsmen (not organic) / brands and retailing / opening stores
    39:00 stores not in metro cities but travel destinations with repeat clientele
    40:00 different today, new stores to serve local clientele; new upper class client potential
    41:11 key themes: craftsmanship, family and owners are chief artisans, connection to french status and new class mobility, modernization in auto era
    41:50 importance of whimsical and art; warmth, soft welcoming in stores vs. other luxury stores
    44:11 next gen thru son in law
    44:36 playfulness of brand, bag redesign and bracelet intro
    46:00 16 divisions
    46:45 don’t push brand during sales - no bright color or iconic logo; quiet luxury and highest quality product made by single artisan; differs from other luxury and luxury today
    47:50 today, adapted to market but still on lighter end of branding; consumers want to indicate hermes
    48:45 silk scarves 1937; finest silks in world; whimsical design
    49:48 biz mix 1937-1988 vs today - silk scarf run up to decline
    50:49 queen elizabeth scarves
    51:12 scarf production - source finest silk from owned farms in BR, 20 new designs per year and retire old to vault, 2 years to produce, screenprint each by hand (not digital) for each color, precision is perfect - no layer can be out of alignment, designs handetched; designer, engraved, colorist, weaver, printing and finishing - very hard to replicate, non transferable skill (no large scale at other companies); specialize in one small special piece of production
    54:39 callbacks to history
    55:10 new products during great depression - clients are unaffected - true today; recession resilient whereas LVMH taking a hit
    56:20 origin of hermes orange box during WWII; hermes claims they own color - non-pantone code color; then created 5-6 other oranges for trends, whimsy nature
    59:00 son in law adds silk ties; patterns less intricate and storied than scarves, but also hand screenprinted
    59:52 added logo after WWII - callback to carriage and mobility; ground brand in history and differentiates from other brands

  • @danaildanailov3847
    @danaildanailov3847 Месяц назад

    Saying that art has zero utility is the most idiotic thing I heard this decade, easily.

  • @guillermojperea6355
    @guillermojperea6355 3 месяца назад +10

    Ridiculously long, unwieldy. In these cases, at least include timestamps.

  • @user-oi5bh8vm2u
    @user-oi5bh8vm2u День назад

    Thank you dear for taking us along. Can't wait what the @ *LUYBAG* queen picked up at Fendi

  • @user-zq9wl4dh7v
    @user-zq9wl4dh7v 3 месяца назад

    #uzbagx

  • @user-bl8fe1oz1k
    @user-bl8fe1oz1k 2 месяца назад

    New friend here sending may full support. #lvguci

  • @user-wx7lu5fc2o
    @user-wx7lu5fc2o 3 месяца назад

    @ *lvguci* Every time I see this bag I can't help but stop here.