French luxury brand Hermes has been granted an extension to respond to a proposed class action lawsuit regarding the purchase of its Birkin handbags. The company has hired a team of antitrust lawyers to fight the lawsuit, which accuses Hermes of imposing high spending requirements on customers. Despite challenges in the luxury market, top-tier brands like LV, Dior, and Hermes are performing well. Luxury brands are facing issues in China with customers returning goods, impacting sales. There have been significant price hikes in luxury brands, with Chanel tripling bag costs and Hermes and Louis Vuitton increasing fees.
“The trend worsened in the first quarter of this year, as Tmall return and cancellation rates for Italian luxury house Brunello Cucinelli⬆️to 69%v59% yy, according to people familiar with the matter. LVMH-owned Marc Jacobs shot to 43%v30% in Q1-22” https://t.co/FJG3SbR0sy
Inside luxury brands' STAGGERING price hikes - from Chanel TRIPLING the cost of its bags to Hermes and Louis Vuitton gouging customers with their own soaring fees https://t.co/FbmgLpPA3j https://t.co/Vk8ZSLyKec
Folks will herald this as showing appetite for ‘quiet luxury’. That ‘trend’ comes & goes regularly. The difference is what folks regard as having true legacy not ‘discretion’. More of game changer is level of newness you’re seeing at brands like Vuitton, Dior & Hermes. https://t.co/w1D6yEFT6A
Luxury brands have a new headache in China: Stingy shoppers are returning their goods, erasing up to 75% of their sales value. https://t.co/ckg77w3Oln
It’s tough at luxury entry price points post Covid boom years. But top tier brands like LV, Dior, Hermes, Cartier are doing way better than second tier despite similar drag. $LVMUY $CFRUY $HESAY $PPRUY $BURBY $CPRI https://t.co/2v0flcBwMS
Hermes hires Latham team to fight consumers’ Birkin bag lawsuit https://t.co/6dtxROBoXw https://t.co/9X4ohyYpll
French luxury house Hermes has turned to a team of seasoned antitrust lawyers to fight a lawsuit accusing it of forcing shoppers to spend thousands of dollars on goods before having a chance to buy one of its famed Birkin handbags https://t.co/bhzGqpGzOs @MikeScarcella https://t.co/NJrWp28Wtz
#JustIn #Hermes response to proposed class action lawsuit was due today BUT according to court filings attorneys on both sides have agreed to an extension to answer, move to dismiss or respond until May 10th. https://t.co/g63yDICDAO https://t.co/v9oak1tGts