Ex-Spice Girl Victoria Beckham has one of the most covetable collections of Hermes bags in the world. Perhaps she is partly responsible for Hermes announcing that they are now breeding their own crocodiles to keep up with the massive demand for their luxury handbags. Victoria Beckham does, after all, reportedly own about one million dollars’ worth of Hermes goods.
Currently, Hermes produces 3,000 crocodile bags a year.
It has long been customary for those who would like to purchase a classic Hermes Birkin or Kelly bag to put their names on a list and wait several years before being able to purchases one of the costly classics. Depending on the skin used to produce them, they can cost upwards of $35,000.
The price and reputation tie into the fact that Hermes bags are meticulously crafted by a trained in-house staff. It appears that despite the economy, Hermes – who refused to lower their prices even when many of their luxury competitors were doing so – is thriving.
The French house’s chief executive officer, Patrick Thomas, told the Reuters Global Luxury Summit in Paris that despite working on building other areas of their house’s business, such as fashion and textiles to prevent the label being overly reliant on the sales of their leather bags (Hermes is also widely known for their silk scarves), their handbags remain to be area that grows the fastest.
“We cannot keep up with the demand. We have massive over-demand. We are limited by our ability to train new craftsmen,” he said.
Victoria Beckham and her Hermes bags are not the only thing causing a stir however. David Beckham latest Emporio Armani ad was recently revealed, right in the middle of London’s Oxford Street. The shy soccer star was introduced by sports presenter Gaby Logan, and his parents and wife were in tow.
Images courtesy of the Fashion Spot forums.