$Hermes International SA(HESAY)$  

What an irony that what previously seems to be Hermes's appeal became it's Achilles heels. That's what businesses faces often characterized as vissicitudes of time.

The key to Hermes business going forward is understanding what institute the demand of it's goods. 

Does the appeal originates from top notch quality of raw materials, niche workmanship & unique desirable design or does it stem from social peer pressure as a symbol of wealth stature?

Or is it a mix of both?

If it's the latter, revenue would likely face pressure from these market developments as even the riches do not want to be look upon as less intelligent (it's a kinder way of saying otherwise).

I don't have a clear answer to this questions. Knowing Hermes, you don't see people carrying a birkin in the common marketplace. Their niche clientele provides them with the necessary protection against competition be it branded or not. 

Unlike other brands who were rapidly creating better accessible lines to capture the growing middle class population, Hermes likely did not. Thereby, reducing another risk of revenue loss.

Given inaccessibility of their ultra-premium prices, it's more likely for them to face pressure from broader economic cycles than the latest market changes & trends. 🥂Cheers. 

https://www.thestreet.com/retail/birkin-bag-maker-faces-major-problem