Topic
27 facts from 3 episodes, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
1837
Thierry Hermès opened his own harness shop in Paris in 1837, on the Rue Basse du Rampart, after a 16-year apprenticeship in Normandy.
“it's not until 1837 that he finally moves to Paris as now a master craftsman and opens up his own shop in Paris on the Rue Basse du Rampart in the 9th arrondissement”
1880
In 1880 Charles-Émile Hermès moved the Hermès workshop and store to 24 rue du Faubourg Saint-Honoré in Paris.
“in 1880, he moves the workshop and the store to Venkat, rue du Faubourg, Saint-Honoré”
1890s
In the late 1890s Emile Hermès travelled to Russia with miniature saddles and harnesses and won the Tsar's court as a customer.
“He literally like gets on a train with a notebook and a suitcase filled with miniature versions of the saddles and the harnesses that Hermès makes.”
1902
Around 1902 Hermès introduced the high belted bag, which David Rosenthal calls the spiritual ancestor of the Kelly and Birkin, to carry saddles and boots.
“they introduce the Haute Aquire bag, which translates as the high belted bag to carry saddles and boots for their clients.”
1910s
Emile Hermès obtained a two-year exclusive French license for the zipper from its American patent holder.
“He tracks down the inventor of the zipper, like the holder of the patent in America. He obtains an exclusive license for two years in France.”
1919
In 1919 Emile Hermès bought out his brother Adolphe to lead the company into the automobile era.
“in 1919, Emil buys him out and says, I believe in my ability to lead this company, making this transition into the automobile era.”
1940s
A wartime shortage of cream packaging led Hermès to adopt orange boxes, which became its signature color.
“During the war, there's a shortage of packaging materials. They can't get cream. The only color that is available to them in the quantities that they need is orange.”
1950s
The Kelly bag cost about $900 in the 1950s, which David Rosenthal says equals roughly $10,000 to $12,000 today.
“It's a $900 handbag in the 50s, which today is $10,000 to $12,000”
1956
In 1956 Princess Grace Kelly of Monaco was photographed in Life magazine with the Hermès Sac à Dépêche, which was later renamed the Kelly bag.
“She is photographed using the Sac à Depeche in Life magazine.”
1979
In 1979 Jean-Louis Dumas launched a Paris ad campaign showing young women wearing Hermès scarves, including with jeans.
“in 1979, the first year he takes over, he launches a new ad campaign in Paris with young Parisian women wearing the iconic Hermès scarves”
1984
Hermès released the Birkin bag in 1984, and it took about five years to become a success.
“They release the product in 1984 and it is not an immediate success.”
1988
In 1988, when Axel Dumas did his first internship, silk made up 55% of Hermès sales and leather only 9%.
“Silk was 55% of the company's sales. Leather was only 9%.”
1993
Hermès was listed on the Paris stock exchange in 1993, with the family selling 19% of the company to the public.
“So in 1993, Jean-Louis lists Hermès on the Paris stock exchange. Collectively, when the dust settles, the family has sold 19% of Hermès to the public.”
2001
By 2001 the Birkin's waiting list was well enough known to be the main storyline of a Sex and the City episode.
“By 2001, it becomes so widely known that there is a waiting list, a sort of almost secret, shrouded in mystery waiting list to get one of these things, that it is the main storyline of a Sex and the City episode.”
2001
In 2001 Bernard Arnault, just after losing the Gucci fight, quietly bought a 4.9% stake in Hermès.
“in 2001, right after he lost Gucci, Bernard quietly buys an initial stake in Hermès of 4.9%.”
2010
In October 2010 LVMH exercised its equity swaps and announced it controlled 14.2% of Hermès shares.
“In October 2010, LVMH exercises its options on the equity swaps that it owns and announces that it now controls 14.2% of Hermès shares.”
2011
In 2011 more than 50 Hermès family members put 50.2% of the company's equity into a holding vehicle called H51, locked up for at least 20 years.
“over 50 of the 80 family members collectively contribute 50.2% of the equity in the company into a new cooperative vehicle that's called H51”
2014
In 2014 a French court ruled that LVMH had to sell down its roughly 23% Hermès stake because of how it had hidden its identity when buying.
“So in 2014, a French court ruled that LVMH had to sell down its stake from 23%. Because it was illegal how they masked their identity in acquiring the stake.”
2014
In 2014 a French court ruled that LVMH's secret accumulation of Hermès shares through equity swaps was illegal and fined it, and LVMH had to distribute the stake to its own shareholders.
“in 2014, the French court rules that this was illegal. LVMH has to pay a fine, I believe like a $10-15 million fine for having done this.”
2015
Apple launched the Apple Watch in 2015, and Hermès later became its luxury partner.
“Here's the story. 2015, Apple launches the Apple Watch.”
2021
Hermès opened the École Hermès des Savoir-Faire in 2021, its first officially recognized French degree-granting craft program.
“They actually just opened in 2021, their first official French governmentally sanctioned degree granting program, the École Hermès de Savoir-Faire.”
2022
LVMH's employee turnover in 2022 was 24%, compared with 6% at Hermès.
“LVMH's total turnover in 2022 was 24% versus Hermès' 6%.”
2023
In its last twelve months before the episode, Hermès reported about $14 billion in revenue, $5.7 billion in operating income, a 71% gross margin and a 44% operating margin.
“The last 12 months, it did $14 billion in revenue, $5.7 billion in operating income. They have a 71% gross margin and a 44% operating margin.”
Undated
Empress Eugénie, wife of Napoleon III, was a client of both Thierry Hermès, for carriage gear, and Louis Vuitton, for luggage.
“So Napoleon III's wife, the Empress Eugenie, becomes a client of both of these men for her carriages, in the case of Hermès, and for her luggage and for her trunks.”
Undated
Hermès says each silk scarf requires about 300 silk moth cocoons.
“It takes 300 silk moth cocoons per scarf, as they will readily tell you to produce these things.”
Undated
Hermès limits each production site to about 250 to 300 craftspeople, so that workers know one another.
“Any one of their production sites does not have more than 250 to 300 crafts people.”
Undated
Ben Gilbert says Acquired embraced its constraints in the way Hermès builds each Birkin bag by hand with one artisan.
“in the way that Hermes leans into every single Birkin bag must be handmade by one artisan, and we're going to build a business model around that.”
Episodes