This just in: the storied house of Hermes will help shoe-in better prospects for Pierre Hardy. Nothing revolutionary, really, but the French label has now acquired a minority stake of the footwear and accessories company.
The news is not entirely shocking. Pierre Hardy has an ongoing history with Hermes, having designed shoes and jewellery for the luxury brand since 2001. In the true Hermes fashion of strategically supporting designers it works with, the acquisition is part of its willingness to contribute to Pierre Hardy’s growth plans while strengthening their relationship. One needs only to look to 2003 for another example: the French maison acquired a 30 percent stake in John Paul Gaultier’s eponymous brand when the designer was creative director of Hermes. (This stake was, however, very pragmatically sold when Gaultier left Hermes in 2011.)
The move indicates Hermes’ keen interest in the luxury footwear market, where it already owns traditional British shoemaker John Lobb. With the shoe market performing better than expected in this year’s first financial quarter, this acquisition looks like a step in the right direction.
This article was written with information from Business of Fashion.
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