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Axel Dumas, co-chairman and CEO of Hermès.
- There are 16 heirs to the Hermès fortune, but two cousins, Pierre-Alexis and Axel Dumas, are at the head of the ultra-luxurious Parisian fashion house that rakes in billions of dollars in profit each year.
- Bloomberg estimates put the Dumas family fortune at $49.2 billion, making them one of the richest families in the world.
- Hermès, like Chanel, is one of just a handful of renowned
retail businesses where a single family owns the controlling share. - Hermès has become synonymous with exclusivity and perfection; its renowned Birkin bag can cost up to six figures.
Thierry Hermès, an orphan, was skilled with leather - so skilled, in fact, that his main clients in the 19th century were royal families.
Six generations later, the Hermès family - and brand - is now known for its exclusive Parisian fashion house and a $49.2 billion fortune.
At the head of Hermès, today are two cousins: Pierre-Alexis and Axel Dumas. Both are co-chairmen of the brand, Axel the CEO and Pierre-Alexis its creative director, whose father, Jean-Louis, revolutionized Hermès from just selling perfectly crafted saddles to an international luxury retailer.
In the fashion industry, Hermès is the ultimate status symbol: Its signature Birkin bag takes over 25 hours to make, costs up to six figures, and can be seen on the arms of celebrities and princesses.
Take a look at the history of Hermès, and the family - which is now one of the richest in the world - that turned it into a fashion powerhouse.