Like many fashion designers and entrepreneurs venturing into the flourishing African market today, the Hermès story began in 1837 when harness-maker Thierry Hermès opened a workshop in Rue Basse-du-Rempart, Paris. Little did he know that his brand would stand the test of time and evolve into an epitome of exclusivity and iconic luxury products. African creativity holds immense potential, and with time, it too can attain a huge percentage of the global market and cultivate a sense of exclusivity.
Several factors stand out in the evolution of Hermès, offering invaluable lessons for fashion businesses in Africa and worldwide:
Continuity: Hermès has remained a family-owned business since its inception, with a strong emphasis on preserving the brand's legacy through generations. When Thierry Hermès passed the reins to his son, Charles-Emile Hermès, he set a precedent for effective succession planning. After 180 years, this continued emphasis on family ownership and smooth transitions has played a critical role in maintaining the brand's identity and success. In the context of African fashion businesses, fostering strategic partnerships and establishing robust systems will ensure continuity and sustained growth.
Understanding the Market: As the twentieth century witnessed a gradual decline in horsepower, Emile-Maurice Hermès, the grandson of Thierry Hermès, foresaw a shift in the demand for harnesses and saddlery. To adapt to changing market needs, he diversified Hermès' offerings, leading to the creation of the brand's first bag collection. Recognizing the importance of adapting to the evolving market landscape, African fashion businesses can ensure their relevance and longevity by identifying and responding to shifting consumer preferences.
Leveraging Intellectual Property Protection: Emile-Maurice Hermès' acquisition of exclusive rights to the zipper in France demonstrates the strategic advantage of integrating intellectual property into a fashion business. With a two-year patent secured on the zipper, known as the Hermès Fastener, the brand successfully ventured into various clothing lines. Today, Hermès has an intellectual property portfolio of around 260 trademarks. For fashion entrepreneurs, safeguarding their creations through intellectual property protection is vital. This grants exclusive rights and offers a competitive edge in the ever-evolving fashion landscape.
As African fashion businesses strive to make their mark on the global stage, the story of Hermès provides valuable insights. By prioritizing continuity, understanding the market, and leveraging intellectual property protection, these businesses can harness their creative potential and build enduring legacies.
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1moIntriguing quote and I would be interested to read the article it is sourced from, unfortunately for me it is behind a paywall.