Hermès is pulling ahead of the pack because of the French luxury brand's emphasis on quality, positioning and messaging that resonates with UHNW and wealthy consumers as well as younger Gens Y and Z enticed by vibrant designs and Gallic savoir-faire. Image: Hermès
For generations, luxury stood by a standard definition: a high-quality product with impeccable craftsmanship, enviable heritage, stellar positioning, exquisite customer service and limited distribution. The arrival of luxury conglomerates that value scale as much as quality and creativity, a rising aspiring class that devours branded luxury, China's growing clout and a perceptible shift to unique experiences has forced a reconsideration of luxury values.