Despite the post-lockdown luxury boom finally losing momentum, Hermès remains full steam ahead. This week, the Parisian fashion house announced growth of 15.6 per cent last quarter, thanks to an unprecedented craze for its elusive (and eye-wateringly pricey) Birkin and Kelly bags.
Considering other fashion conglomerates like Kering have seen sales down by nine per cent — including a 12 per cent fall for Saint Laurent and a seven per cent fall for Bottega Veneta — it could seem shocking that so many consumers are scrambling to spend up to £30,000 on a bag.
Yet, as any Hermès fan will know, there’s a long and expensive waiting list — with many having to spend hundreds of thousands at the store before being offered the chance to buy a precious Birkin tote. Thanks to this highly exclusive elixir, the mega-wealthy can’t seem to get enough of the costly accessory. So, when iconic auction house Bonhams revealed a 338-lot fashion extravaganza featuring rare Hermès miniature bags, the glitterati turned out in their droves.
Meg Randell, Bonhams head of designer bags & fashion UK, commented: “We continue to see an appetite for mini-sized bags on the pre-loved market. The Hermès mini Kelly is a popular choice,” she explains, adding that there has been growing interest in the mini Lady Dior, a design classic that was introduced to a new audience under Dior’s current creative director Maria Grazia Chiuri’s tenure, too.
As for final checkout, lucky punters managed to snatch a Hermès rose Sakura Swift leather Birkin for £25,000; a shiny black and navy Niloticus lizard mini Kelly for nearly £18,000; and a shiny crocodile Birkin for £35,000.
Small change.
