Hermès Buys Minority Stake in Pierre Hardy to Strengthen Partnership
A move that makes sense since Hardy has been designing for Hermès since the 90s.
As reported by WWD, Hermès just recently announced that it has taken a minority stake in the luxury footwear brand, Pierre Hardy. The move allows the storied French design house to improve its relationship with the respected designer, who has been working with the company since 1990 developing its shoe line and jewelry offerings. Mr. Hardy is renowned for his eye-catching geometric motifs and avant-garde footwear silhouettes, which has caught the eye of some A-list clientele including Kanye West, Sienna Miller and Gwyneth Paltrow to name a few.
The Parisian label has opened stores in Paris, New York and recently, Japan. In addition, the brand has just expanded its offerings to handbags. With such a growth since its inception, it feels like an effortless progression for Hermès to invest in the company. In terms of global sales, Pierre Hardy’s strengths lies within the men’s fashion sector, as it accounts for 20 to 25 percent of its global sales. In an official statement, Hermès International Chief Executive Axel Dumas said, “I’m delighted with our partnership with Pierre Hardy, which shows how proud we are to support creative talent and incredible expertise as part of this unique tribe that strives for excellence.” As for the designer, he states that it’s “the natural extension of 25 years of creative collaboration.”
