Hermès Handover: A New Era as Véronique Nichanian Steps Down

Updated 2:55 p.m. ET Oct. 17

Generational Shift at Hermès

PARIS — Hermès is entering a pivotal transition as Véronique Nichanian announces her departure from her role as men’s artistic director after an impressive 37 years. This significant generational change is rare in an industry characterized by quick leadership changes.

The Transition Announcement

In a statement released on Friday, Hermès confirmed that Nichanian, noted as fashion’s longest-serving creative director, will present her final collection on January 24 during Paris Men’s Fashion Week. This marks the end of an era and opens the door for new leadership within the luxury brand.

Potential Successors

Hermès is expected to unveil Nichanian’s successor shortly. Speculations indicate that the new leader may come from within the organization. One of Nichanian’s longtime deputies, Benjamin Brett, who has been with Hermès since 2010, is a notable candidate. Another option could include expanding the responsibilities of Nadège Vanhee, currently the artistic director of women’s ready-to-wear.

Industry Expectations

Luxury industry experts predict that Hermès will prioritize stability over drastic changes. With the ready-to-wear segment performing strongly, analysts believe the brand will likely continue its current trajectory rather than redefine its creative direction.

Challenges in the Luxury Market

This leadership transition comes at a time when luxury brands like Hermès are grappling with a slowdown in global luxury consumption. As aspirational consumers become more selective, Hermès maintains a unique position due to the investment value of its products, particularly its rare handbags, which often appreciate over time.

Celebrating Nichanian’s Legacy

Jean Vigneron, a creative industries consultant, emphasizes that Nichanian’s lengthy tenure parallels few industry legends such as Karl Lagerfeld and Ralph Lauren. Vigneron applauds Hermès for operating on its own timeline, focusing on a consistent brand identity rather than fleeting trends. Nichanian’s contributions have significantly shaped the men’s division, helping Hermès achieve remarkable financial success, with revenues reaching 15.2 billion euros in 2024.

Looking Ahead

As Hermès navigates this leadership change, the new artistic director will need to align with the brand’s established identity and the preferences of its loyal customer base. Experts agree that while fresh perspectives are valuable, continuity will remain crucial to maintain the luxury brand’s legacy. Laia Farran Graves notes Nichanian’s remarkable ability to blend comfort, luxury, and timeless design, which has left an indelible mark on the industry.

In conclusion, the transition at Hermès marks a critical moment for the brand, balancing the need for innovation with the preservation of its esteemed heritage. As the luxury market continues to evolve, Hermès appears poised to uphold its signature elegance and timeless appeal.