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Hermes: From Purses to $10,960 Bicycles?

Luxury brand Hermes has unveiled its line of handmade luxury bikes that cost a whopping $10,960 for one. Hermes is no stranger to the game of catering to the favorite pastimes of the rich and super rich and this new addition is slated to help boost an already promising sales growth rate for the remaining quarters.

The global luxury brand is known among the rich for its handmade leather saddles which made the transition to the line of bicycles easier, although it also has a number of high end accessories and other odds and ends that only the rich will love, such as a $400 Blackberry case. Meant for leisurely strolling, this bike, despite the hefty price tag, is not one for scaling mountains or speeding down the bicycle lane. The company had recently reported that it had surpassed growth estimates in the second quarter with sales climbing up to $1.2 billion. Leather good sales, which include its line of luxury bike saddles, grew by 12 percent in the second quarter.

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Hermes: From Purses to $10,960 Bicycles?