From WWD: “PARIS — Full-year net profits at Hermès International rose 7.3 percent to 288 million euros, or $394.8 million, from 268.4 million euros, or $337.2 million, a year ago.” Such great news, I was afraid the world had gone bleak and stopped buying bags
I’ve been asked by several reporters about luxury bags in the “recession” market and I told them my theory which I call Bag-onomics. In my opinion, true luxury buyers are recession proof. A woman who buys $8,000 bags on a regular basis will continue to do so because most likely her income is not dictated by a month to month pay check.
