January 16, 2013

Hermès consolidates its portfolio through new acquisitions

Hermes

The legendary French luxury artisan Hermès has just bought high quality leather supplier Tannerie d’Annonay. The 80 employees of the Anonnay crafts shop are proud of their tradition dating back to the thirteenth century and their know-how or, better said, savoir faire, refined over time. It is this skill, combined with the superior technology they have embraced, that has allowed them to achieve the remarkable finished leather appreciated not only by Hermès, since up to now 70% of Tannerie d’Annonay’s turnover has been due to export.

Tannerie d’Annonay

Hermès already has two such own suppliers in France, one in Italy and a reptiles skins provider in the United States, but the acquisition is part of its long term strategy as stated since 2011, targeting the “preservation and development of sources of supplies and know-how” relevant to the business.

Valuing the consistent performance of the French manufacturer, HSBC was estimating that Hermès is most likely to remain one of the best companies generating good growth perspectives, “even more in a challenging environment, thanks to its distinctive positioning”.

Hermès has been established in 1837 and is designing luxury apparel and accessories, including the famous Birkin bag. Among its former designers are reputed names such as Martin Margiela and Jean-Paul Gaultier.

Hermes

 

Photo sources: fr.fashionmag.com, blog.greenwichtime.com, mairie-annonay.fr, businessoffashion.com