Ben Gilbert: belief

Transcript context

…But by nature, given what this is in the luxury industry, you can't assemble this experience, the Hermes experience, out of separate components. It used to exist. In a pre war, early 20th century era, you could. But Hermes was the only one that sort of chose to keep doing things the old way and scale, and everyone else kind of went out of business or changed their methodology to scale. For example, Louis Vuitton has the branding. They have exclusivity, but the craftsmanship isn't there. They don't make things in that early 20th century way. Supreme can offer you exclusivity and brand, but again, there's no real craftsmanship there. You've got all these individual artisans, a craftsperson and a little workshop somewhere in Paris making the highest quality, Hermes quality things, but there's no brand. Would you buy that? Would you pay even half the price for that? I think a lot of people who are buying Hermes are buying it because it's Hermes. And they want the brand. There are other things that are missing from that too. There's no shopping experience, service is unknown because you don't know how long that maker is going to be around. You know for a fact that 50 years from now, you can get your Hermes thing serviced. There's some great makers like Chester Mox, April in Paris, or I heard great things about Mila Jito. These are exceptional craftsmen, hand making items in the same way, but it's a different bundle of value propositions. Yeah, completely different product.…

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