The popular handbags are each named after the actresses Jane Birkin and Grace Kelly and sometimes change hands for five-figure sums. rune hellestad/Corbis via Getty Images
French luxury brand Hermès is enjoying strong demand among Generation Z, a new survey shows.
The company is known for its coveted Birkin bag, which is extremely popular on the second-hand market.
Young people buy Hermès products even though the company avoids working with social media stars.
This is a machine translation of an article from our US colleagues at Business Insider. It was automatically translated and checked by a real editor.
Generation Z has expensive fashion tastes – even though half of this age group has not even completed their education yet.
Among all luxury brands, the French fashion house Hermès is particularly attracting the attention of those born between 1997 and 2012 in the first quarter of 2024. That resulted in one recent survey conducted by the media magazine “Ad Age”.. The traditional label is known for its exclusive and sought-after handbags such as the Birkin and Kelly bags.
Sales in the luxury market have recently boosted Generation Z and Millennials. And so it’s no surprise that Hermès is at the top of the list. The brand is known for charging five-figure amounts for bags.
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Long waiting lists at Hermès: customers rely on second-hand handbags
The second-hand market in particular attracts young buyers. In 2023 said the online retailer “The Real Real”., the Birkin bag has the highest resale value with a return of 127 percent. The demand for bags in good condition has increased by 130 percent.
However, buyers cannot simply buy a brand new Birkin with a click of the mouse. The waiting lists are extremely long. Hermès has been criticized for its sales practices. According to critics, these allegedly force customers to spend money on other products before they can buy the sought-after Birkin bag at a later date.
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Last year, Hermès shares overtook competitors such as luxury giant LVMH. And that was without the company providing free bags to influencers and celebrities. Despite the attention of Gen Z, Hermès does not have an official Tiktok account.
In addition to its iconic leather bags, the family-run company is also known for its lush silk scarves – which are often used as an accessory to a Birkin – and its blankets costing more than 1000 euros.
Read up the original articles Business Insider.