Hermès is known internationally for decadent designs and a sophisticated sensibility. Since its founding in 1837, the French luxury fashion brand’s product prices have continued to rise — but there’s a reason behind the high price tag, according to Pierre-Alexis Dumas, the brand’s artistic director, who explains why the cost of Hermès’ designs is so expensive.
“Do you ever make a decision based on cost? Budget? Like, ‘This will be less expensive if we do it this way,’” CBS journalist Sharyn Alfonsi asked during Dumas Monday’s episode of “60 Minutes,” featuring a profile of the brand, which includes ready-to-wear, accessories and home goods.
A guest wears a gray Hermès Kelly bag and a blue fluffy jacket during London Fashion Week on Feb. 15, 2019.
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“I can’t work like that,” Dumas said. “I’ve always heard that Hermès is very costly. It’s not expensive. It’s costly,” he said.
But what makes Hermès so costly? And what is the difference, in Dumas’ eyes, between cost and expense?
“The cost is the actual price of making an object properly with the required level of attention so that you have an object of quality,” Dumas said. “Expensive is a product, which is not delivering what it’s supposed to deliver, but you’ve paid quite a large amount of money for it, and then it betrays you. That’s expensive.”
Among the French luxury fashion house’s most costly staple pieces is the iconic Birkin bag, which is initially around $10,000 at retail. The cost, however, will vary significantly based on materials and size.
Petra Dieners wears a red Celine jacket, black and white blouse by Celine, Orwell trousers, YSL shoes, Projekt Produkt sunglasses, bracelet by Schubart and Hermès Birkin bag during Berlin Fashion Week on Jan. 19, 2023.
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For example, a white Himalaya Birkin with diamond-encrusted hardware sold for more than $450,000 at Sotheby’s in 2022, breaking records for the most expensive Birkin ever auctioned.
As far as the process of buying a piece from Hermès luxury finds, Dumas emphasized the importance of patience. “You go to a store. You get an appointment. You meet a salesperson. You talk about what you want. It’s not available. You’ll have to wait,” he said. “They’ll come back to you. It takes a long time. Eventually, it’s gonna happen.”
