First a little background. The Hermes retail empire started as a small store in Paris in 1873.

First a little background. The Hermes retail empire started as a small store in Paris in 1873. The store supplied custom-made leather goods to the carriage trade-harnesses, saddles, and other equestrian equipment. Hermes leather goods were known for their durability; the secret was the signature "saddle stitch," which rarely came undone (and when it did, Hermes artisans would promptly repair it as they do today). This attention to quality was so renowned that royal coronations were delayed until the Hermes carriage fittings were completed and delivered. Hermes is now one of the most successful retail brands in the world. It is also one of the last luxury goods companies remaining in private hands; virtually all others are owned by large corporations.