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Day: July 31, 2025
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A mass grave that could hold up to nearly 800 infants and young children — some of it in a defunct septic tank — is being excavated on the grounds of the former home run by the Bon Secours Sisters, an order of nuns.
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Léon Marchand tries to break his own 200 IM world record at the swim worlds in Singapore
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- Hermès’ boss isn’t happy when brand-new Birkins pop up on resale platforms.
- CEO Axel Dumas said selling Birkins to resellers hurts Hermès’s bond with real customers.
- “I pull a face, and I’m not happy,” he said about seeing his bags on secondhand marketplaces.
The sight of fresh Birkins on resale sites puts Hermès’ CEO in a foul mood.
Axel Dumas, the billionaire chief executive of one of France’s most valuable companies, talked about how new handbags on secondary markets have spoiled Hermès’ relationship with its customers.
“Sometimes we have false customers come to our stores to buy them, to resell them, and they prevent us from serving our real customers, and that is a real cause for concern for us,” Dumas said, speaking to investors in a Wednesday second-quarter earnings call.
“So, I’m not at all happy to see this development of new bags that are sold in the secondhand market,” he said. “I pull a face, and I’m not happy, and it doesn’t make me feel in a good mood.”
The popularity of the bag has resulted in legions of dupes and counterfeits. Walmart’s $78 version of the Birkin went viral on TikTok earlier this year.
Koyaana Redstar, a vintage luxury handbag authenticator, told BI last year that buying a bag to resell it was not worth it because it was a gamble.
“I think a lot of people will walk into Hermès or Chanel, then come to us to sell it. When we give them prices below retail, they’re upset — they want to make what they paid for the bag,” Redstar said.
However, she added that there were exceptions. It is possible to profit from some classic bags from brands like Hermès and Goyard by buying them at retail price and selling them on the secondhand market, she said.
The Birkin bag is possibly Hermès’ most iconic product. Named after British actor-singer Jane Birkin, the bag was first launched in 1984. It retails for more than $10,000 in the US.
Hermès continued its strong sales streak in the latest quarter, reporting a quarterly revenue of 8 billion euros, or $9.13 billion. This was an 8% increase in revenue compared to the same period the year before.
It is one of the few luxury giants that has not been affected by the luxury slump. Its largest French competitor, LVMH, has seen its sales plummet over the last few quarters. In the first half of 2025, LVMH reported a 4% drop in revenue and a 22% drop in net profits.
Hermès’s stock price was down 4.5% in after-hours trading on Wednesday. It is down about 2% since the start of the year.
Representatives for Hermès did not respond to a request for comment from Business Insider.
Read the original article on Business Insider
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