Hermes reports it can’t keep up with demand.
Not everyone needs to snap out of the retail recession. Crocodile handbags have become so desirable that the French luxury house Hermes has started farming the freshwater species. CEO Patrick Thomas said the exotic skin bags, which can fetch nearly $50,000 at retail, each require hides from three to four crocs. Hermes has opened farms, mostly in Australia, to keep up with demand. “We have massive overdemand. We are limited by our ability to train new craftsmen,” Thomas told Reuters at its Global Luxury Summit in Paris earlier this week. – From Boston Herald