Shang Xia

Acquired · Feb 19

Hermès

Hermès launched it in 2009 and later sold it to Italy's Agnelli family. The hosts say it gave away the value of being French.

Tips

• Hermès's board cheered when management destroyed a $150 beach bag that sold too well in Japan▶ 2:15:00Shang Xia, launched 2009, was later sold to the Agnelli family.
• Hermès bought other brands and built Shang Xia, diluting focus until it pulled back▶ 2:26:40It divested Leica and later sold Shang Xia to the Agnelli family.