Hermès (Audio)

In this episode of Acquired, Ben Gilbert and David Rosenthal delve into the history, strategy, and unique business model of Hermès, the French luxury brand. Starting with the founder Thierry Hermes in 1837, they trace the company's evolution from a harness maker to a global luxury icon, highlighting key figures like Émile Hermès and Robert Dumas. They discuss the importance of craftsmanship, the impact of historical events, and the brand's ability to maintain its identity while adapting to changing times. The hosts analyze Hermès's power, value creation, and value capture, contrasting its approach with that of other luxury brands like Louis Vuitton. They also explore the challenges and opportunities facing Hermès in the modern era, including its e-commerce strategy and its relationship with Apple.