“At the same time, it’s still a recruitment tool for us,” he said, adding that brick-and-mortar stores remain relevant for many first-time customers who want to visit to touch and feel a scarf, tie or bracelet they want to buy. In a positive sign for the athleisure trend, Hermès sees continued strong demand for its sneakers and other casual assortment and plans to expand those categories, he said.Ĭhavez echoed many other rivals and described online as the company’s fastest-growing “store,” with customers showing little to no hesitation in how much they are willing to spend. Guys “are looking for alternative to ties.”Ī product display aimed to attract the millennial crowd. “It’s just a general trend of how people are dressed today.”Įven though tie sales have “slowed down quite a bit,” Hermès has seen outsized demand for its “tie-free” collection, including men’s scarves and pocket squares, he said. “You have more and more companies that are saying, 'You don’t have to wear a tie or suit to work,'” Chavez said. The silk and textiles category was the weakest performer, with a 2018 constant-currency growth rate of 3.2%, thanks to slowing demand for ties. We are off to a very strong start.”ĭemand for Hermès' leather goods and apparel, among other categories, has also been healthy, with the company recording its “best year ever” with the Apple Watch Hermès collection, Chavez said. The business in New York has been very good. represents about a fifth of the company’s business. market is “pretty significant” for Hermès, Chavez told me, adding that the U.S. Last year, it opened a store in Palo Alto in Silicon Valley. In the U.S., it has also opened a store in Orlando this year. Hermès has about 310 stores in over 49 countries. Higher demand was seen across all regions, including double-digit gains in both Asia and the Americas. The company recently reported that its 2018 sales, excluding currency impact, jumped 10.4% to nearly 6 billion euros, or $6.73 billion, as net profit jumped 15%. Hermès is "crossing the line" in a bid to attract younger shoppers as the French label continues to outperform in an industry that Bain expects to see a “positive growth trend” of 3% to 5% each year through 2025. What you are seeing here is the next evolution of having a little café and bar area where people can just come in and sit down. He added: “We spend a lot of time training our staff to make sure they are welcoming everybody and anybody who come into the store. People may be a little bit intimidated when they walk into the store. That’s important because of one challenge that Chavez acknowledges: “Sometimes Hermès can have a reputation for maybe being a little standoffish. “Part of it is to relate to the whole concept of the store, which is much more comfortable, much warmer, much more casual and very welcoming in this neighborhood.” “That’s a big departure for us,” he said. Andria ChengĮmployees for the first time will have a different uniform, sporting “a much more causal look,” and male employees don’t have to wear ties, Chavez said, adding that the employees will don Hermès sneakers. The new Hermès store features exclusive bicycle, fanny pack and skateboard bag designs.
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