Haaland-vesken under press: – Mer selektivt marked

Haaland's presence has increased attention on Hermès, leading to a surge in demand for luxury items such as Birkin and Kelly bags. Birkin prices, which peaked in 2022, have since dropped to 1.7 times their original price in the third quarter of the year. Factors like size, color, age, and condition significantly influence prices, with the most sought-after combinations maintaining their value while rarer models and less popular color combinations struggle to fetch previous price levels. Buyers have become more knowledgeable about the different models and what affects their worth.

However, price pressure is also evident in the used market, with Hermès experiencing a decline in value. Retrading, a used-for-handler, has sold a limited number of Birkin bags in recent years, mainly to established customers. They have not observed a price decrease in Norway, where the limited customer base with the means to afford bags between 160,000 and 220,000 Norwegian krone is constrained. Even though international used prices have dropped from their peak, there's still a significant spread in resale prices.

Galleri Gimle recently sold a Birkin 30 from 2007 for 175,000 Norwegian krone, while Nyborgs Auksjoner sold a new Birkin 35 from 2024 for the same price, around 35% more than today's retail price. Hermès' exclusivity remains a significant challenge, as there are long waiting periods for Birkin bags. Kalamaki expects further price adjustments in the new year. Despite the used market's price reduction since 2022, Haaland's Hermès exposure has contributed to increased attention on luxury items.

Fashionphile reports a 98% increase in search interest for the HAC model after Haaland was spotted with it. The resulting brand value from Haaland's Hermès display during the football World Cup amounted to $8.8 million, according to Launchmetrics, a company cited by Bloomberg. Not all used-for-handlers are experiencing falling prices, as American Fashionphile reports stable or even rising Birkin prices this year, attributing it to heightened attention around Haaland's collections.

The increasing interest in used Birkin bags is also raising concerns among analysts. Hermès shares have fallen 35% so far this year on the Paris Stock Exchange, placing it among the weakest luxury stocks on the exchange, according to Reuters. Earlier this October, UBS downgraded the stock to a sell recommendation, citing an increase in the supply of used Birkin and Kelly bags that could weaken the exclusivity that has been crucial to Hermès' success.