Hermes International S.A. was established in 1837 in Paris, France. It is a fashion house that has a long history and tradition with its family-owned business that has been in the same family for five generations now. They are mostly known for their best quality handbags and other superior items. They have been in the market for more than two centuries now and is one of the very well-known fashion brands all around the world. Some of their products got more fame than others, for instance their Birkin bag has the longest waiting list in terms of accessories today.
Hermes is a high end fashion brand that has been there in the market for a very long time now and has gained high brand equity for them. There are a few factors that contribute towards this high brand equity:
Brand Awareness
Being in the market for so long obviously got them a lot of attention and because they worked on their expansion and growth and their stores are now located in around 240 locations worldwide which has contributed towards the awareness of the brand worldwide. Moreover, Hermes is also known for selling one scarf every 20 seconds, which also speaks a lot about the awareness and the demand of the brand in global market. Many celebrities around the world are their regular client which adds to their awareness through their endorsements.
Brand Loyalty
Being a high-end fashion brand, Hermes targets a niche of customers. But these customers are usually their loyal customers because of the kind of quality and unique selling proposition that they provide through their brands. Their products are prestige and the kind of brand the customers want them to be associated with them. They have some well-known celebrities as well as their loyal customers as well, who add value to the brand and bring in more loyal customers.
Brand Image
As we are well aware of the high-end, luxury brand reputation that Hermes enjoys all around the world. This kind of brand image of Hermes makes the customers buy the brand as they want themselves to be associated with that kind of image. It is a fact that people want to be associated with this classic, old and prestigious brand, but recently there have been some stories about their leather bags being harmful for animals and environment and that has raised many questions on the brand. With the kind of awareness that people today have about these issues, it’s a fact that this news has affected the brand’s image and thus its brand equity in this highly competitive market.
Brand Elements
The iconic logo of Hermes that is present on all their products is the identity of Hermes. This logo is their representation and people can easily recognize the brand because of this logo. Moreover, there is a classic style of Hermes that is also their identity which remains same in all products. These elements are what people want themselves to be associated with and they add up to the overall brand equity of Hermes.
References
Adams, S. (2015, September 10). Inside Hermès: Luxury’s Secret Empire. Retrieved March 10, 2018, from https://www.forbes.com/sites/susanadams/2014/08/20/inside-hermes-luxury-secret-empire/#6ef56e3b2ad2
A Timeline of the Hermès Brand. Retrieved March 10, 2018, from https://baghunter.com/blogs/insights/hermes-brand-history-timeline
Hermès – The Strategy Insights Behind The Iconic Luxury Brand – Martin Roll. (2018, February 28). Retrieved March 10, 2018, from https://martinroll.com/resources/articles/strategy/hermes-the-strategy-behind-the-global-luxury-success/