Fashion
Hermes Faces a Long, Slow Demise for the $195 Necktie
- French company’s silk revenue trails other product segments
- CEO Dumas says change is structural, starts pushing scarves
Hermes International has become the latest fashion industry victim of men’s casual dress, signaling weakness in its silk business as neckties lose their allure.
Revenue from silk and textiles rose 3 percent in 2018, the slowest growth of the French luxury-goods maker’s business units. Chief Executive Officer Axel Dumas said Wednesday the company has been shifting production to adjust to men’s new preferences.