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How Hermes Built a Luxury Moat on Scarcity and Craft
In this episode of Business Strategy Talks, Lucas and Luna unpack how Hermes built one of the most durable moats in luxury retail. They trace the journey from a 19th-century saddlery to a $200 billion fashion house that never discounts and never advertises. The hosts focus on Hermes's deliberate scarcity strategy: limiting supply of its iconic Birkin and Kelly bags, refusing to sell online for years, and training artisans for years before they can touch the product. They break down the numbers—how Hermes generates higher margins than Gucci or Louis Vuitton without celebrity…
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