French luxury goods manufacturer Hermes shared that its classic Birkin and Kelly bags have been having a moment even during the pandemic.
The sale of the two bags, each of which cost approximately $20,000, helped fuel a 12.3 percent increase in fourth-quarter sales of the company.
Experts attribute this to the fact that "well-heeled consumers now have fewer places to spend their cash."
The company further shared that in 2020, its sales fell just 6%.