ALL HAIL HERMES

Oh dear, all hail Hermes.

Thank you for joining what is being touted as 'Brisbane's luxury row' and elegantly thrusting open your doors (in Elio Moda's previous home) in Edward Street.

Fashionably, this speaks volumes for Queensland's thirst for luxury goods and Hermes is in good company with the newly opened Richards & Richards next door, Watches of Switzerland and BOSS across the road.

Edward Street is certainly earning its reputation as a destination for the high-end fashionista with the likes of Louis Vuitton and Tiffany & Co also taking up residence there.

The Brisbane Times reported Lord Mayor Campbell Newman as quick to point out the “new world city” symbolism of the boutique; it continued the global-standard gentrification of the Edward Street “fashion precinct”.

Famed for its Über-expensive Birkin bags and $550 silk scarves, the French fashion house - founded in 1837 as a horse harness business, counts this boutique as the fifth for Hermes in Australia and the second in Queensland after the long-established boutique in the Gold Coast's Marina Mirage.

Reports from New York overnight have the French luxury products firm setting up a private holding company that will own more than half of its shares. The move will allow the descendants of Thierry Hermes, to sell their shares without seeing them scooped up by LVMH chairman Bernard Arnault.

The founding family owns more than 73% of Hermes and is seeking to protect the brand from a takeover. In September, Arnault - whose firm owns labels including Fendi, Marc Jacobs and Christian Dior - shocked Hermes when he disclosed he had bought 17.1% of the company and signalled he might enlarge his stake further.

While rumours in fashion industry circles have been circulating for months about Gucci's intended Brisbane assault, this has not yet been confirmed.

Want to get yourself a little Hermes shoe fix? This pair of casual sandals will cost you $670, online or in store.

Love!

______________________________________________________
Follow Tracey on Twitter @ http://twitter.com/traceygillinder
or read Tracey's columns @ http://www.babesinbusiness.com