The global economy may be poor but that does not give shopaholics a reason to curb on their favorite past time. Hermes confirmed that the changing paradigms of world economy have still not disappointed the spirit of buyers from buying luxury products. This French luxury company released this statement on Sunday during Paris Fashion week. This report came as quite a shock especially after affordable brands like Clarins and L’Oreal expressed the dips in sales over the past few months.
However the chief Executive Officer is not very confident about the sales of their company and fears the unpredictability of future. Well, his estimation is very correct when it comes to macro economy nothing can be predicted. The company is paying much heed to its consumer base to avoid any dips, as during this difficult economy any negligence may prove very detrimental for the company. Other much celebrated luxury brands like Louis Vuitton, Burberry, Swatch and many more have complained about the constant dips in their sales, but Hermes claims to have a steady sales. This makes one wonder, could it be a strategy employed by the company to boast greater sales and hence attract more consumers?
In such a tough economy this French company had the nerve to launch a new line of expensive handbags, this shows that Hermes is pretty confident about its sales and niche audience. No matter how badly hit the economy is people always shop for luxury products and like they say, shopping is therapeutic for some people, perhaps that could explain this behavior of consumers in such tough times.