The New York Post recently published an article that Hermes pays the highest rent on Madison Ave. The new boutique will pay $1,700 dollar per square foot for a space of 30,000 square feet. After adding the numbers up the total rent for 10-year extension will be $51,000,000. Yes, you heard it right, 51 million dollar.... For that amount Hermes will continue to rent a three-story space, which houses a singel building that is entirely occupied by Hermes.
While a vintage Hermes Birkin bag made of crocodile leather is sold for $64,500 at the moment, you can imagine that an amount of $51 million dollar is peanuts for Hermes. On my favourite bag website Purseblog, I came across this colourful overview of details of Hermes bags. You have to admit, even though the prices are crazy and slightly ridiculous, you got to love the bags! What do you think of Hermes? Is it your Style?