Roll over, Gucci. Hermes is now taking centre stage

With fewer occasions to dress up as well as an increasing awareness of fashion's environmental costs, shoppers may decide to buy less, but buy better. All of this favours luxury houses steeped in heritage, such as Hermes.

One takeaway from the third-quarter earnings people have seen so far is that consumers are still spending - and they are reaching for big, well-known brands for everything from food to face cream.