👜 Birkin: The Handbag That Costs More Than Your House | 48

Summary

Podcast Summary: The Best Idea Yet – "Birkin: The Handbag That Costs More Than Your House" (Ep. 48)

Release Date: September 9, 2025
Hosts: Nick Martell & Jack Crivici Kramer
Podcast Network: Wondery

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Overview

This episode explores the untold origin story of the Hermès Birkin bag, unraveling how a spontaneous sketch on a Paris-London flight led to the creation of the most iconic—and expensive—handbag in fashion. Through witty banter and sharp analysis, Nick and Jack unpack what makes the Birkin the ultimate holy grail product: its celebrity ties, meticulous craftsmanship, calculated scarcity, cultural cachet, and even its legendary waitlist. The episode weaves through history, business strategy, pop culture, and the economics of exclusivity to explain why the Birkin is more than a bag—it’s "the best idea yet."

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Key Discussion Points & Insights

1. Fashion as Identity (00:15–01:30)

• Nick and Jack open with playful commentary on each other’s personal style, framing how some fashion items (like the Birkin) become an extension of one’s identity.
  • "What I love about your wardrobe is that it is the reflection of you. It's your identity. And you have owned that for the 15 years I've known you." —Nick (00:54)

2. The Birkin Bag: Status, Scarcity, and Craft (01:37–04:44, resumes 05:20)

• Birkin bags are the epitome of luxury: painstakingly handcrafted over 18 hours, starting at $12,000, but almost impossible to buy new due to Hermès' notorious waitlist.
  • "Every single one is handcrafted over 18 hours by a single craftsman and made from leather in varying degrees of exotic..." —Nick (02:04)
  • Secondary market prices can exceed $50,000.

3. The Serendipitous Birth of the Birkin (05:20–16:30)

• Setting: Paris airport, 1981. Jane Birkin, English actress and style icon, strikes up a conversation with her seatmate—a man who turns out to be Jean-Louis Dumas, the head of Hermès.

  • Jane laments her lack of a practical bag. Inspired, Dumas invites her to sketch her dream bag—on an airplane puke bag.
  • Three years later, the first Birkin bag is born and gifted to Jane.
  • Hermès extends an annual royalty to Jane, which she donates to charity.

  Memorable Moment:

  • "That's when the man says, Hermes? I am Hermes." —Jack (09:01)

4. Heritage and Early Evolution of Hermès (09:21–16:30)

• Originated in 1837 as a harness and saddle shop, Hermès reinvented itself in the 1920s to focus on personal luxury goods, leading to the design of the first iconic bag, the Kelly (named after Grace Kelly).
  • Design focus: practicality, durability, and timelessness.

5. Icon Status, Initial Lukewarm Reception, and Rivalry (20:19–25:25)

• Despite high hopes in 1984, Birkin sales lagged in the flashy, logo-centric 1980s; Chanel's overt branding won the decade.

• Hermès doubled down on discretion and mystique—no big logos, minimal advertising, and ultra-limited supply.

  Notable Strategy:

  • "Hermès exercises a level of discipline we have seen from no other company we've covered. They keep their design exactly the same, despite every trend going in the opposite direction." —Nick (24:52)

6. The Power of Scarcity and Celebrity Validation (25:25–29:48)

• Hermès' deliberate scarcity further fuels demand. The “Birkin wish list” becomes legendary.
• The Birkin’s star ascends after a legendary cameo on Sex and the City in 2001 ("It's not a bag, it's a Birkin!"—27:09), propelling it into pop culture’s stratosphere.

7. The Myth and Mechanics of the Waitlist (29:33–32:52)

• The Birkin’s waitlist is less real than it seems—celebrities and top customers bypass it with ease.

• Hermès sales associates are incentivized not to sell Birkins or Kellys to maintain scarcity.

  Memorable Quote:

  • "Employees make a sales commission on every Hermès product they sell... except for two items, the Kelly bag and the Birkin bag." —Nick (32:11)

8. The Rise of the Secondary Market and Explosive Value (32:57–34:53)

• Online luxury resellers let shoppers skip the wait—if they’re willing to pay two to four times retail.
• Limited editions and rare Birkins sell for truly eye-watering sums ($80K+).
  • "The Birkin 25 Wicker picnic edition... can be yours today for around $80,000." —Nick (34:06)

9. Counterfeits, Dupes, and Scandals (35:04–39:53)

• Counterfeiting, including "inside jobs" where Hermès artisans created real Birkins off-books, becomes a multimillion-dollar problem.

• Massive busts lead to jail time for ex-employees—but the counterfeit business remains lucrative.

  Stat:

  • "In 2021 alone, counterfeit goods accounted for an estimated $467 billion in global trade." —Jack (35:54)
  • "80% of products online sold under the Hermes name are fakes." —Nick (36:08)

10. Investment Power & Hermès’ Business Triumphs (40:22–42:22)

• Birkin and Kelly bags now drive 25% of Hermès’ revenue.
• Hermès’ market cap has surpassed LVMH’s, despite much lower sales—explained by the power of exclusivity.
  • "Analysts have found that the value of Birkins has grown faster than the S&P 500. It appreciates between 14 and 38% per year." —Jack (41:50)
  • "Birkins are officially the bitcoin of bags." —Jack (42:19)

11. Hosts’ Key Takeaways (42:36–44:37)

• Jack: The ‘holy grail product’ formula: Scarcity + Quality × Friction.
• Nick: Time is Hermès’ greatest asset; patience, legacy, and tradition reinforce the brand’s supremacy.
  • "Time is our greatest weapon." —Quote from Jean-Louis Dumas, cited by Nick (43:40)

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Notable Quotes & Memorable Moments

| Timestamp | Quote | Speaker | |-----------|--------------------------------------------------------------------------------------------------------------|-------------------| | 02:04 | "Every single one is handcrafted over 18 hours by a single Craftsman and made from leather in varying degrees of exotic..." | Nick Martell | | 09:01 | "Hermès? I am Hermès." | Jack Crivici Kramer| | 24:52 | "Hermès exercises a level of discipline we have seen from no other company we've covered." | Nick Martell | | 27:09 | "It's not a bag, it's a Birkin." | Sex and the City | | 32:11 | "Employees make a sales commission on every Hermès product that they sell ... except for two items, the Kelly bag and the Birkin bag." | Nick Martell | | 41:50 | "Analysts have found that the value of Birkins has grown faster than the S&P 500. ... It appreciates between 14 and 38% per year." | Jack Crivici Kramer| | 43:40 | "Time is our greatest weapon." | Jean-Louis Dumas (via Nick) |

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Key Timestamps for Major Segments

• [05:20–16:30]: The Jane Birkin–Jean-Louis Dumas airplane meeting and the design of the Birkin
• [20:19–25:25]: Why the Birkin failed at first, and how Hermès stuck to its guns on scarcity/discretion
• [27:09–28:00]: Sex and the City’s legendary Birkin episode
• [35:04–39:53]: Counterfeit scandals, “inside jobs,” and legal drama
• [41:50–42:22]: Birkins as a financial asset ("bitcoin of bags")
• [42:36–44:37]: Hosts’ ‘holy grail product’ formula & strategic takeaways
• [44:52–45:41]: Auction of Jane Birkin’s original bag for $10.1 million

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The "Best, Best Facts Yet" Segment

• Jane Birkin’s first Birkin was auctioned in 2023 for $10.1 million—the most expensive handbag ever sold at auction. (44:52–45:41)
• Jane regularly donated her Birkins to charitable causes, raising funds over decades.

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Engaging Insights

• The Birkin bag is a master class in how to leverage scarcity, craftsmanship, celebrity, and mystique to drive demand and sustain sky-high prices for decades.
• Exclusion isn’t just tolerated—it’s baked into the allure (“wish list” over “waitlist”).
• Despite the rise of fast fashion and e-commerce, Birkins are never sold online—a move that only boosts their aura.
• Hermès has weaponized time itself: from the hours of bag-making to the wait for ownership, the entire process oozes patience and luxury.

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Tone & Style

Nick and Jack maintain a sharp, energetic tone, packed with pop culture references, humor, direct advice, and accessible explanations for complex luxury business concepts. The dialogue is conversational and playful, making even deep business strategy entertaining and digestible.

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For Listeners Who Haven't Heard the Episode

This episode is an entertaining deep dive that traces the Birkin bag’s journey from a spilled purse on an airplane to a global icon—touching on celebrity, business, and culture. You’ll learn why people treat Birkins as investments, how Hermès revolutionized luxury sales, and why the waitlist is as famous as the bag itself. Expect clever banter, memorable quotes, and business lessons you can drop at your next brunch.

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Next Episode Preview:
The hosts announce they'll be covering the New York Yankees—“the most beloved and most behated team in baseball.”

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End of Summary

Transcript

[Nick Martell]

Wondery subscribers can listen to the best idea yet, early and ad free right now.

[Jack Crevici Kramer]

Join Wondery plus in the Wondery app or on Apple podcasts.

[Nick Martell]

Jack, can I tell you what I love about your Luke? I look. No, no, no. Not your luck. You're Luke.

[Jack Crevici Kramer]

Okay, go ahead, tell me.

[Nick Martell]

Even though your career has gone from finance to entrepreneurship to tech to your wardrobe hasn't changed. You know, some might call that stubborn or outdated. I call it classic. Okay, okay. If I had to sum up your style, here it is chalet chic.

[Jack Crevici Kramer]

I like that.

[Nick Martell]

Usually you'd have like a slim fit flannel on, a flat brim hat, and like a pair of sunglasses that scream, I spend my money like I fry my bacon. Does that make sense?

[Jack Crevici Kramer]

Not completely, but I'm very into it.

[Nick Martell]

I guess what I'm saying, Jack, is what I love about your wardrobe is that it is the reflection of you. It's your identity. And you have owned that for the 15 years I've known you.

[Jack Crevici Kramer]

Can I have a turn?

[Nick Martell]

Yes, yes, yes.

[Jack Crevici Kramer]

Nick's signature look is what I call a Goldilocks button down shirt. Not too pressed, not too wrinkled, and always a button down collar. Khakis, not jeans, but never khaki color. They're like navy black and sometimes white. And then sneakers from a brand you've never heard of but that you would love to tell us about.

[Nick Martell]

I do appreciate, Jack, that we're both still wearing slim fit in the hot high hopes that that trend actually returns one day. Fashion is cyclical.

[Jack Crevici Kramer]

But besties, There happens to be a product that is inspired by one person's legendary sense of style.

[Nick Martell]

And it's a product that has never been cyclical. In fact, it has only gotten more and more popular each and every year it has existed.

[Jack Crevici Kramer]

We're talking about the Birkin bag. It's called a Birkin bag.

[Nick Martell]

A Birkin bag. Oh, my God, a. A Birkin bag.

[Jack Crevici Kramer]

You've heard of it?

[Nick Martell]

Yes, Rory Gilmore, we have.

[Jack Crevici Kramer]

Because the Hermes Birkin bag is the most expensive, coveted, and hard to get handbag in the world.

[Nick Martell]

Every single one is handcrafted over 18 hours by a single Craftsman and made from leather in varying degrees of exotic, from calfskin, all the way to alligator, crocodile, and even if you're lucky, a diamond coated ostrich.

[Jack Crevici Kramer]

And for this handcrafted bag, prices start at around $12,000 on the low end.

[Nick Martell]

Yeah, by the way, that's $12,000 if you get it directly from its luxury manufacturer, Hermes. But sorry, doing that is next to impossible because of their Infamous wish list. You might be on standby waiting up to five years for that phone call.

[Jack Crevici Kramer]

Unless your name is Cardi B, Kate Middleton or happens to rhyme with Audacian, in which case you'll get the bag right away.

[Nick Martell]

But a used Birkin bag, oh, that can go for up to 450dol.

[Jack Crevici Kramer]

$50,000. And a handbag selling for more than a house. Yeah, we had to look into this.

[Nick Martell]

The bag is named for a pop culture icon, Jane Birkin, who helped invent the bag on a late night flight from Paris to London.

[Jack Crevici Kramer]

But that flight was only the Birkin's beginning. It would take the fashion world more than a decade to catch up to its mystique. Because while most industries are focused on efficiency, Hermes is not. And that's part of the secret sauce to the Birkin success.

[Nick Martell]

So today, besties, we're getting into how Hermes turned a simple tote into the whole grail of handbags.

[Jack Crevici Kramer]

And how Hermes jumped ahead of its rivals to become the number one luxury stock in the world.

[Nick Martell]

They do a fraction of the sales of Louis Vuitton, and yet they're the same $250 billion size.

[Jack Crevici Kramer]

We'll also hear how Sex and the.

[Nick Martell]

City transformed Hermes and why this bag is now possibly a better investment than your 401k.

[Jack Crevici Kramer]

Here is why the Hermes Birkin bag is the best idea yet.

[Nick Martell]

From wondering and T boy. I'm Nick Martell.

[Jack Crevici Kramer]

And I'm Jack Crevici Kramer.

[Nick Martell]

And this is the best idea yet. The untold origin stories of the products.

[Jack Crevici Kramer]

You'Re obsessed with and the bold risk takers who made them go viral.

[Nick Cannon]

I got that feeling again. Something familiar, but no, we got it coming to you. I got that feeling again. They changed the game in one move. Here's how they woke foreign. It's your man, Nick Cannon, and I'm here to bring you my new podcast, Nick Cannon at Night. Every week, I'm bringing out some of my celebrity friends and the best experts in the business to answer your most intimate relationship questions. So don't be shy, join the conversation, and head over to YouTube to watch Nick Cannon at Night. Or subscribe on the Wondery app or wherever you get your podcast.

[Lawless Planet Narrator]

What if I told you that the crime of the century is happening right now?

[Jack Crevici Kramer]

From coast to coast, people are fleeing flames, wind, and water. Nature is telling us. I can't take this anymore.

[Lawless Planet Narrator]

These are the stories we need to be telling about our changing planet. Stories of scams, murders, and coverups and the things we're doing to either protect the earth or destroy it. This is Lawless Planet. Follow Lawless Planet on the Wondry app or wherever you get your podcasts.

[Nick Martell]

Night has fallen over Paris. The airport's Air France departure gate is one of the last few pockets of activity. Well dressed travelers juggle carry ons and wait for their boarding call. Next stop, London's Heathrow Airport.

[Jack Crevici Kramer]

It's 1981. Kim Karnes is singing about Bette Davis eyes and Phil Collins. Can feel something coming in the air tonight.

[Nick Martell]

Speaking of pop, Jack, there's actually a famous actress and singer right here in the terminal with us. She's tall, she's got long hair and soft brown bangs flat falling over her face. Her name is Jane Birkin.

[Jack Crevici Kramer]

Jane Birkin is beloved in France as a performer and style icon. But surprise, she's actually English. Jane has starred in pivotal new wave films, she's recorded breathy pop songs, and she's known for her unique sense of style. But the main reason every French person knows her name is that for a dozen years, she was partnered up with France's favorite crooner, Serge Gainsbourg.

[Nick Martell]

Here he is in a duet with Jane herself. That song was so scandalously steamy, it gets condemned by the Vatican.

[Jack Crevici Kramer]

Yeah, the Pope. Not a Gainsbourg fan?

[Nick Martell]

No, no, no, no, no. For most of the 60s and 70s, Serge was part Frank Sinatra, part Harry Styles. And together, Serge and Jane made a terrific power couple. Years before Tom Holland and Zendaya, the.

[Jack Crevici Kramer]

Two were photographed everywhere. At parties, selling or shopping with their daughters. And everywhere, Jane would be snapped with her signature purse, a large woven wicker basket slung over her right arm.

[Nick Martell]

It's basically a picnic basket. It looks like it's straight out of a Martha's Vineyard grandmother's house. It's great for the French lifestyle. You grab a baguette, a couple bottles of Bordeaux, boom, you toss them in this picnic basket and you are off to go.

[Jack Crevici Kramer]

But in 1980, Jane and Serge break up and she moves in with another French film director named Jacques Doyle.

[Nick Martell]

Well, but not that it is any of our business, but Jacques has a pretty bad temper. And a couple of days before Jane's night flight over to London, Jacques intentionally runs over her famous basket bag with his car.

[Jack Crevici Kramer]

So now that she's at the airport getting ready to board, Jane's carry on is not organized the way she likes. Instead of her cool wicker basket, she's got a random temporary replacement Nick picture. A big floppy canvas tote. It's stuffed with passport, wallet, lipstick and a leather bound Hermes appointment book all jumbled together.

[Nick Martell]

But besties. Jane is about to get a double dose of serendipity. First, she scores a seat upgrade. Bye, bye, coach. Hello, first class.

[Jack Crevici Kramer]

I definitely had pictured her flying first class already.

[Nick Martell]

I did too, Jack. Turns out, not Jane's style, but she will accept an upgrade when offered. Now, the second piece of good luck actually seems more like rotten luck at first, because once she's on the plane, she goes to stow her tote bag above her on the overhead. And her air maze planner hits the ground, spilling its contents everywhere. Reminder notes, receipts, cocktail napkins from the airport lounge suddenly scattered all over her seatmate's feet.

[Jack Crevici Kramer]

Her seatmate looks like he flies first.

[Nick Martell]

Class all the time.

[Jack Crevici Kramer]

He's an impeccably dressed Frenchman with dark eyebrows and kind eyes. He's a good sport as he helps her gather up her receipts in my face. But he does suggest that maybe her planner needs some pockets.

[Nick Martell]

So Jane says, what can you do? Hermes just doesn't make it with pockets.

[Jack Crevici Kramer]

That's when the man says, hermes, I am Hermes.

[Nick Martell]

To be clear, Jane's seatmate with the eyebrows isn't literally Hermes. His name is Jean Louis Dumas, a fifth generation descendant of the luxury label's founder, Thierry Hermes.

[Jack Crevici Kramer]

Hermes was founded almost 200 years ago in 1837, when the US had 26 states and was only on its eighth president.

[Nick Martell]

Hermes has always been a fine leather company, but in the beginning, that leather was used to make horse saddles. That's right. Hermes signature saddle stitch was practically waterproof. A smart choice for the 1800s, when literal horsepower is how most people got around.

[Jack Crevici Kramer]

But then the very first automobile arrives, making horse drawn carriages a thing of the past. So Hermes saddle business is on the downswing. But that proprietary stitching may have some other applications not threatened by Henry Ford's Model T. So in the 1920s, Hermes pivots their business from outfitting horses to outfitting people. We're talking golf jackets, jewelry, sandals, and, yes, handbags.

[Nick Martell]

Thierry hands control of the company to his son, who hands it to his son, who has three daughters. And because of early 1900s patriarchy, it's those daughters husbands who end up running Hermes.

[Jack Crevici Kramer]

The husband who will eventually lead the entire company is named Robert Dumas. Robert is a talented designer as well as a businessman. And in 1935, he designs a purse that will change everything about the handbag scene.

[Nick Martell]

Now, Jack, I know this is an audio medium, but let's describe this particular, particular handbag because the details are critical.

[Jack Crevici Kramer]

The bag Robert creates is shaped like a trapezoid, wider at the bottom than at the top. It has four metal studs called Clue that act like little feet, keeping the bottom from getting dirty. If you set the bag on the ground, it closes with a zipper, then a top flap that can be belted shut with a slender horizontal strap. It's cute, Nick, but why is this bag so revolutionary?

[Nick Martell]

Well, Jack, it's revolutionary because when it comes to women's purses, size matters. In the 1930s, pocketbooks were small and flat. They were more like a birthday card than a purse. But this trapezoidal Hermes bag that Jack just described, it's roomy, it's secure. Robert Dumas calls it a sac, a de peche, or translated, the bag for important documents. Hmm.

[Jack Crevici Kramer]

Sounds like the kind of thing Jane Birkin could have used on that transcontinental flight.

[Nick Martell]

You are right. Like, this is exactly the kind of thing that a jet sedding actress would really enjoy. And in the 1950s, this nifty bag of Roberts gets its champion. The actress Grace Kelly.

[Jack Crevici Kramer]

If you're a fan of Hitchcock movies, then you know exactly who Grace Kelly is. The classic blonde beauty who starred in films like Rear Window and To Catch a Thief.

[Nick Martell]

In fact, Jack, in that last film, Grace's character was given the Hermes saca de peche as a prop. But funny thing, Grace herself falls in love with this prop, and she actually keeps it. After they finished filming, it becomes a permanent part of her wardrobe. The paparazzi starts snapping pics of Grace getting in and out of cars, going to film premieres, and traveling with her new husband, Prince Ranier of Monaco, all with this handbag.

[Jack Crevici Kramer]

When Grace and her prince are expecting their first child, Grace even puts this purse in front of her belly to keep her baby bump out of the tabloids.

[Nick Martell]

And this bag becomes the luxury accessory. It is so associated with Princess Grace that Hermes eventually renames it the Kelly.

[Jack Crevici Kramer]

When the bag's designer and head of Hermes, Robert Dumas, dies in 1977, his son, Jean Louis Dumas, takes over. And this brings us back to that flight to London, where Jane Birkin is apologizing as she picks up the loose contents of a replacement bag from Monsieur Dumas lap.

[Nick Martell]

As Jane stuffs the Hermes planner back into her tote, Jean Louis is probably thinking, ma', am, why not just get a Kelly bag? It literally has three ways to stay shut. It is the most practical luxury bag that you can buy.

[Jack Crevici Kramer]

Jane is well aware of the Kelly, but it's too small for her. Her wicker basket could hold two full bottles of wine and the Rest of her stuff. The Kelly cannot, well, basically jack the.

[Nick Martell]

Rest of the flight. Jane turns into a one woman focus group and tells Jean Louis her ideal bag would be like the Kelly only Baker. Like, like four times bigger. Halfway between a purse and a suitcase. What she's after is the Goldilocks size. And then the head of Hermes stops her and he says, whoa, whoa, whoa, show me. So Grace grabs a vomit bag that's sitting in front of her. Whoa, whoa, whoa.

[Jack Crevici Kramer]

Where's this going?

[Nick Martell]

Don't worry, Jack. Jane is. She's not feeling queasy. She just needs some scrap paper. So she starts sketching her idea on this little barf bag as Jean Louis, the head of her maze, looks on. And this is the first blueprint of what will become Hermes's star product. Something that will change the entire fashion industry. As the landing gear drops and ears start popping, Jean Louis folds the vomit bag neatly away and puts it in his pocket.

[Jack Crevici Kramer]

It really doesn't take long to fly from Paris to London.

[Nick Martell]

No, it doesn't, Jack. But apparently it is just long enough to change history. With Jane's sketch safely tucked away, they bid each other adieu, with a promise that Jean Louis will make her drawing a reality. Once she deplanes, Jane forgets all about this until a month later when she gets a call inviting her to Hermes.

[Jack Crevici Kramer]

In Paris, every Hermes store is a work of art, with multiple floors of their latest silks, suits, fragrances and handbags. The store smells like crisp champagne cured calf skin. And is that money I smell?

[Nick Martell]

I believe that is Frank's Jack. But our friend Jane is buzzed right up to the design studio. And it's there that she's handed a large handbag made of cardboard, because this is how Hermes works out its prototypes.

[Jack Crevici Kramer]

To her surprise, this cardboard model really does look just like what you drew up for Jean Louis. Like an oversized Kelly bag, but a little more casual and wider at the top so it's less trapezoid and more rectangle.

[Nick Martell]

Like the Kelly, this prototype has a secure top flap that locks and those little feet at the bottom, the clue that help it stand up on its own.

[Jack Crevici Kramer]

But the main difference between this new bag and the Kelly, the handles.

[Nick Martell]

The Kelly's got just one handle right on top, and you can't carry it open. The flap needs to be closed for the whole thing to work right.

[Jack Crevici Kramer]

But this new bag has two handles, which means you can put it on one arm and rummage around in it with the other hand. Part purse, part tote bag, it's perfect for a woman on the go, just like Jane.

[Nick Martell]

So Jane steps back and admires this cardboard purse on her arm. It looks sharp. The Hermes designers invite Jane's opinions on the leather types, and she obliges. Until finally, they suggest. What if we named it after you?

[Jack Crevici Kramer]

Jane stops. What?

[Nick Martell]

I mean, this makes sense, right? Like the Kelly was named for Grace Kelly, but it took years to adopt that name. Why not just go ahead and use Jane's name right now, since she herself has been so instrumental in conceiving the entire thing?

[Jack Crevici Kramer]

Jane is flattered, and Jane agrees.

[Nick Martell]

And three years later, in 1984. Voila. Jane returns to that very same shop to pick up a finished calfskin leather version. This is the first official Birkin bag.

[Jack Crevici Kramer]

When she tries to pay for her new Birkin, the sales clerk insists this is a gift. But frankly, Hermes is getting the massive bargain here. The name of a generational style icon to christen their newest product.

[Nick Martell]

We did discover that Hermes also gives Jane an annual royalty for the use of her name, which she immediately diverts to various charities.

[Jack Crevici Kramer]

But still, this is a steal for Hermes.

[Nick Martell]

I mean, Jack, calling their bag a Birkin is no mere endorsement or licensing deal. This is all about identity.

[Jack Crevici Kramer]

We've covered many products on this show that use proximity to celebrity to get ahead. Some, like Juicy Couture, even make it the basis for their entire marketing strategy, relentlessly shipping tracksuit samples to JLo's home. But when you hit your product to a celebrity's actual name, the relationship goes much deeper.

[Nick Martell]

Case in point, Jack. Let's look at Air Jordans. That sneaker brand is forever associated with Michael Jordan and his incredible basketball career. Now, long after he hung up his jersey, the brand is worth $7 billion.

[Jack Crevici Kramer]

An endorsement is temporary. A name is forever.

[Nick Martell]

So when Jane steps out of that Hermes shop with the very first Birkin in existence on her arm, she has no idea what this bag will become. She's just happy she has a brilliant new tote that she can fit her whole day into.

[Jack Crevici Kramer]

And it feels a little more grown up than her wicker basket did. But this is just the beginning of the Birkin bags journey. Believe it or not, the next leg of that journey doesn't go well.

[Nick Cannon]

It's your man, Nick Cannon, and I'm here to bring you my new podcast, Nick Cannon at Night. I've heard y' all been needing some advice in the love department. So who better to help than yours truly? Nah, I'm serious. Every week, I'm bringing out some of my celebrity friends and the best experts in the business. To answer your most intimate relationship questions. Having problems with your man? We got you catching feelings for your sneaky link. Let's make sure it's the real deal first. Ready to bring toys into the bedroom? Let's talk about it. Consider this a non judgment zone to ask your questions when it comes to sex and modern dating in relationships, friendships, situationships and everything in between. It's gonna be sexy, freaky, messy and you know what? You'll just have to watch the show. So don't be shy, join the conversation and head over to YouTube to watch Nick Cannon at night or subscribe on the Wondery app or wherever you get your podcast. Wanna watch episodes early and ad free? Join Wondery right now.

[Lawless Planet Narrator]

How hard is it to kill a planet? Maybe all it takes is a little drilling, some mining and a whole lot of carbon pumped into the atmosphere. When you see what's left, it starts to look like a crime scene.

[Nick Martell]

Are we really safe? Is our water safe? You destroyed our tap.

[Lawless Planet Narrator]

And crimes like that, they don't just happen.

[Jack Crevici Kramer]

We call things accidents. There is no accident. This was 100% preventable.

[Lawless Planet Narrator]

They're the result of choices by people. Ruthless oil tycoons, corrupt politicians, even organized crime. These are the stories we need to be telling about our changing planet. Stories of scams, murders and cover ups that are about us and the things we're doing to either protect the earth or destroy it. Follow Lawless Planet on the Wondry app or wherever you get your podcasts. You can listen to new episodes of Lawless Planet early and ad free right now by joining Wondry plus in the Wondry app, Apple Podcasts or Spot Spotify.

[Nick Martell]

When the very first Birkin bags hit the scene in 1984, Hermes has high hopes. This isn't Zara. They're not rolling out 50 new styles every season. When this century old brand crafts a new thing, that is a big deal.

[Jack Crevici Kramer]

Oh, and at $2,000 apiece, or around six grand today, this Birkin bag is for real people. If price is a signal, the signal here is this bag transcends fashion or function. This is a work of art.

[Nick Martell]

At first, these bags are offered in two sizes, the Birkin 35 and the Birkin 40, and that number tells you how many centimeters wide the bag is at the bottom.

[Jack Crevici Kramer]

Later, Hermes will make smaller versions, the Birkin 30 and the Birkin 25, but for now it's just the roomy ones.

[Nick Martell]

And luxury connoisseurs will quickly learn that there's much to love about these bags. From the fine quality leather to the Unique top fl shaped like an M. With special cutouts to fit around that critical second handle.

[Jack Crevici Kramer]

Closing this handbag feels as satisfying as two Lego pieces snapping together perfectly.

[Nick Martell]

But the real standout feature is Hermes approach to craftsmanship that basically ignores the entire industrial revolution. You see, today, we're used to assembly lines in manufacturing. To maximize efficiency, one worker stitches the bag, handles another cuts the base, another glues the little feet on, so on, so on, right?

[Jack Crevici Kramer]

But that is not how Hermes rolls. For Hermes, one single artisan is responsible for assembling each Birkin bag.

[Nick Martell]

Each one takes roughly 18 hours to make.

[Jack Crevici Kramer]

And get this, these artisans take two years to train. It's like a master's program in stitching. And Hermes recruits 200 craftspeople for its leather goods division every year. The one bag, one maker system that Hermes has reinforces that each Birkin is a work of and people will pay a premium for art.

[Nick Martell]

And given the effort and the price, Hermes develops a clever system to guard against knockoffs.

[Jack Crevici Kramer]

Basically, they make a secret code.

[Nick Martell]

Yeah, it's like an anti dupe strategy here. When the craftsperson is finished, they stamp each bag with a discreet little mark to indicate the craftsperson and the year. It is so small and so hidden that it is often called the blind stamp. It's kind of like something straight out of the Da Vinci code.

[Jack Crevici Kramer]

Yeah, 1995 bags have a Y with a circle around it. 2013 bags, that's a Q inside a box.

[Nick Martell]

Oh, and Jack, if your leather is exotic, there is a symbol for that too. One that's much more prominently displayed right near the clasp. A square means that the bag is made of mississippiensis alligator, while two dots mean that it is niloticus crocodile, which are two species of reptile. You probably didn't even know code into a bag.

[Jack Crevici Kramer]

No, you didn't. A shooting star means the bag was made for an Hermes artisan's personal use. More on that later. What you need to know now is that these mysterious, subtle, but impactful details start weaving together a lore around the bags. If you know, you know. And very few know.

[Nick Martell]

But Jack, after all that, the focus on craftsmanship, the exquisite leather, the Kelly inspired classic style. Here is the shocker. The Birkin bag. Sales fail to meet expectations. This is the 1980s, otherwise known as the me decade. Madonna's singing about being a material girl, and Wall street traders are giving commencement speeches about how greed is good.

[Jack Crevici Kramer]

So you've got brands like Louis vuitton and Yves St. Laurent and Chanel enjoying a major 80s sales surge. So you'd think luxury products fit in perfectly with 80s materialism and flashy wealth.

[Nick Martell]

But this is the problem for Hermes, because Birkin is expensive, but it isn't flashy. By contrast, Chanel's handbags, with their gold flourishes quilted to black leather and prominent interlocking double C logo. They are all about the flash.

[Jack Crevici Kramer]

That double C logo from Chanel becomes the ultimate 80s status symbol. By 1984, Chanel is number one in the handbag market.

[Nick Martell]

Basically, Jack Chanel is screaming their brand while Erin Mays is just whispering it. And in the 1980s, consumers want their logos to yell.

[Jack Crevici Kramer]

Now, a lot of companies might respond to this challenge by following the leader. Increase the size of the Hermes logo, and advertise everywhere like Chanel does.

[Nick Martell]

But Hermes does not. In fact, Hermes exercises allow level of discipline we have seen from no other company we've covered. They keep their design exactly the same, despite every trend going in the opposite direction. Slow and steady. You will never see a giant H anywhere on a Birkin. In fact, the only branding at all is a tiny little stamp hiding under the flap that says Hermes Paris, made in France. And instead of pushing Birkin sales, they limit production. Like, really limit production.

[Jack Crevici Kramer]

We can't say how many Birkins Hermes makes in a year, because the secret is guarded more closely than Satoshi Nakamoto's.

[Nick Martell]

True identity or Beyonce's next album drop.

[Jack Crevici Kramer]

But estimates range from 70,000 bags a year to a mere 12,000 bags.

[Nick Martell]

And now to sprinkle on some more context. By our math, Michael Kors pumps out over a million bags with that brass MK brand on it.

[Jack Crevici Kramer]

This scarcity plan and mystery of Hermes is not unlike Ferraris, which we talked about in our Ferrari episode. Enzo Ferrari deliberately kept production numbers low to drive up his car's value. Ferrari said he's always making one less car than the market demanded. Well, Hermes does the same with Burke.

[Nick Martell]

And you know what? It works. Because wealthy people really don't like being told they can't buy something. If they hear a purse isn't available, that's the purse they want.

[Jack Crevici Kramer]

Throughout the 90s, demand for Birkin rises steadily, and so does its price. Until something happens that breaks Birkin mania wide open.

[Nick Martell]

At the Hermes shop on Madison Avenue in New York City, jewelry sparkles under the glass. Silk scarves dangle enticingly, and sales attendants and security guards dress in dark tailored suits. A blonde woman in a bright pink blouse strides up to the sales rep parked in handbags. She's come to claim the object of her desires. A cherry red Birkin 35 Rouge with gold plated hardware. She's been mesmerized by it for weeks, studying it as it sits in the display window. If she can just have this bag, it'll mean she's made it.

[Jack Crevici Kramer]

But the sales clerk cheerfully pours cold water on her dreams and says something that will change our May's history.

[Nick Martell]

It's 4,000. I know. And there's a way Waiting list. I assumed five years for a bag. It's not a bag, it's a Birkin. It's not a bag, it's a Birkin. That is possibly the most famous statement ever made about a purse. And the source is the HBO show Sex and the City.

[Jack Crevici Kramer]

How could we Forget?

[Nick Martell]

It airs August 2001 featuring a whole B plot about Samantha scheming to get a Birkin. And spoiler alert on a 25 year old episode. Her plan backfires disastrously.

[Jack Crevici Kramer]

It's no accident it that Sex and the City becomes a launchpad for the Birkin. When the show debuted in 1998, it quickly became celebrated not only for its modern take on relationships and female friendship, but also for its high fashion name drops as every luxury brand makes a recurring cameo.

[Nick Martell]

Thanks to this show, millions of viewers on Walmart budgets learned to tell a Jimmy Choo drop heel from a Louboutin pump. This media exposure becomes an accessible gateway into the world of luxury at zero marketing cost to Hermes.

[Jack Crevici Kramer]

Even for legacy brands like Hermes, getting a product on Sex and the City is kind of like an author getting picked for Oprah's Book Club. It changes everything.

[Nick Martell]

And now we should point out, Jack, that by the time The Burke and Rouge 35 makes its HBO debut, the bag is already in a much stronger position financially than it had been in the mid-1980s. Thanks to Hermes scarcity, strategy and the bag's high quality focus, the Birkin became more and more sought after in luxury circles throughout the 90s. And in 1998 the New York Times style section even ran a big splashy spread on the so called bag wars. But here's the fascinating detail. It wasn't the bag wars between Hermes and Chanel. It was the bag wars between Hermes and Hermes.

[Jack Crevici Kramer]

In one corner the Kelly bag popularized by Grace Kelly, and in the other the Birkin bag. The whole article is about which Hermes handbag is the most elite.

[Nick Martell]

Although as you're describing it Jack, since both are made by the same luxury house, the real winner here is Hermes, clearly. But the style section, it is one thing. Sex and the city and its 5 million plus weekly viewers. That is way, way more exposure.

[Jack Crevici Kramer]

Plus, the Birkin scene in the show highlights one of the bag's most controversial selling points.

[Nick Martell]

There's a waiting list. I assumed five years. Ah, the infamous wait list, which Hermes calls a wish list. But it's a wait list. It becomes a sacred rite of passage on the long road to getting a Birkin of your very own.

[Jack Crevici Kramer]

What the season ticket wait list once was for New York Giants fans, the Birkin waitlist is to fashionistas. This list is what elevates the Birkin bag from mere luxury good to holy grail product.

[Nick Martell]

I mean, Jack, you can walk into a Rolex store and you walk out with a Rolex watch, but you cannot walk into an Hermes store and walk out with an Hermes Birkin bag. But let's jump into the numbers. Actually, we can't, because Hermes loves being coy with its facts and figures. We mentioned earlier that the number of Birkins manufactured per year is a protected company secret, and so is the true starting price for the purse itself. But underneath these highly proprietary numbers is a secret. The Birkin wait list is only sort of real. What?

[Jack Crevici Kramer]

Yeah, it's actually true. You even see it in the episode of Sex and the City. Samantha is able to cut the Birkin waitlist line by pretending it's for her client, Lucy Liu. When it's for Lucy, the wait list mysteriously disappears and the bag is delivered to Samantha's hotel. This Birkin wait list feels a lot like the reservation system at a Michelin star restaurant. A table for some rando?

[Nick Martell]

I'm sorry, sir, that is a 10 month wait.

[Jack Crevici Kramer]

How about a table for Bobby De Niro?

[Nick Martell]

Right this way, sir. It's not fair, but it's life. And it is the appeal of luxury.

[Jack Crevici Kramer]

Birkin fans of the 2000s take to the Internet and start online forums dedicated to bucking the Birkin system. Most of them say if you're not famous like Lucy Liu, the best way to land a Birkin is to buy your way up the food chain.

[Nick Martell]

Now, this may be Hermes greatest financial hack because it means buying other non Birkin Hermes items first. Before you get your Birkin like Jack, you gotta splurge on the $100 socks, the $500 scarves, the $1,500 loafers.

[Jack Crevici Kramer]

It's like Hermes has a file on all of its customers. Like a dossier on how many things you've purchased and how deserving you are of a Birkin bag.

[Nick Martell]

I was thinking it's more like a move out of the mafia the don is not gonna help you out unless you give a little paiole, if you know what I mean.

[Jack Crevici Kramer]

Yeah, it's a handbag pro quo.

[Nick Martell]

You even see this reflected in Hermes compensation structure. Employees make a sales commission on every Hermes product that they sell, from the boots to the belts, except for two items, the Kelly bag and the Birkin bag.

[Jack Crevici Kramer]

They're literally disincentivized to sell you one.

[Nick Martell]

Of those bags, which, of course, helps the company maintain its air of exclusivity.

[Jack Crevici Kramer]

And this practice of steering customers slowly up the Birkin chain has actually put Hermes on the receiving end of a class action lawsuit, which we covered on our daily show, the best one yet. The plaintiffs accuse Hermes of antitrust violations.

[Nick Martell]

Now, because we prefer to not get sued, the case is still pending as of this recording and we have no further comment. But in the meantime, if you do want a Birkin, you allegedly either have to be famous or accrue a collection of really swanky Hermes 100 socks.

[Jack Crevici Kramer]

Actually, Nick, there is one other way.

[Nick Martell]

So if you don't want to turn your Birkin hunt into its own escape room challenge, you do have one more option. Authorized resellers. And this becomes a whole new financial wrinkle in our story that is out of Hermes control, but they still benefit from. You see, in the early 2000s, luxury resellers start cropping up. Sites like FirstDibs and Madison Avenue Couture provide ways for shoppers with more cash than patience to get access to opportunities. Authenticated Birkins. But in providing greater access to the bag, these new online platforms unintentionally drive up the prices even further.

[Jack Crevici Kramer]

These ready to nab Birkins cost, at minimum, double. Like a scalper that scooped up all the Cowboy Carter tickets, these resellers massively mark up prices on the secondary market.

[Nick Martell]

Basically, Jack, you're paying more to avoid the waitlist. Today, a lower end Birkin bag goes for $12,000. If you wait your turn and get.

[Jack Crevici Kramer]

It off the wait list.

[Nick Martell]

Every slight upgrade, though, like the togo leather instead of the Chev, or gold plated hardware instead of the brass, that's going to make it more like 15,000 bucks and up.

[Jack Crevici Kramer]

By contrast, the very cheapest Birkin available right now on the reseller, Madison Avenue Couture, is $24,500. That's a 2x markup.

[Nick Martell]

Oh, and limited edition Birkins go for way, way more like. Like the Birkin 25 Wicker picnic edition available at Sotheby's. This thing evokes Jane Birkin's beloved picnic basket purse. It can be yours today for around $80,000. Yeah. Same price as a used S class Mercedes Benz. So, Jack, Hermes has pulled off a retail feat, creating a holy grail product that fashionistas would sacrifice a pinky just to hold. The heritage brand, plus the limited supply, plus the mysterious purchasing process. It means the reseller price point can go way, way, way up above retail.

[Jack Crevici Kramer]

But this also creates a real pressure cooker situation. With so few bags and so much demand and such a high price, something has to break.

[Nick Martell]

And something does break, Jack. So we're going to have to hang a left turn off Madison Avenue and head downtown into the back alleys of Hermes's counterfeiting rings. Would you say that dupes are a challenge when it comes to luxury things?

[Jack Crevici Kramer]

I'd say dupes are a challenge when it comes to anything. But counterfeits are a special challenge for luxury. And to define our terms here, counterfeits are dupes that illegally try to pass for the real thing.

[Nick Martell]

Like if I decide to buy some off brand AirPods at the airport from some company I never heard of, that's.

[Jack Crevici Kramer]

A dupe, and that's legal.

[Nick Martell]

Okay. But if I buy knockoff AirPods that claim to be made by Apple, that's a counterfeit. Exactly.

[Jack Crevici Kramer]

In 2021 alone, counterfeit goods accounted for an estimated $467 billion in global trade. That is bigger than the global markets for solar and wind energy combined.

[Nick Martell]

Back in 2012, then CEO of Hermes, Patrick Thomas, told the press that 80% of products online sold under the Hermes name are fakes.

[Jack Crevici Kramer]

80%. Now, much of that 80% involves obvious fakes. In fact, you can find dozens of helpful videos online that'll help you spot the differences between a real and a fake.

[Nick Martell]

The cutout of the leather on the left is uneven, whereas the one on the right is very precise. Tldr the differences come down to quality, quality of materials, and quality of craft. Most knockoffs are made in factories using substandard leathers and metal. So the fakes have some obvious tells, even if they're not obvious to your besties at brunch.

[Jack Crevici Kramer]

But what happens when even experts can't tell the fake from the real? This is what makes the Birkin counterfeit rings of the 2010s so devious, because they're inside jobs.

[Nick Martell]

Remember, earlier we mentioned that Hermes allows its artisans to create bags for their own personal use.

[Jack Crevici Kramer]

Well, they call this policy bon au.

[Nick Martell]

Personnel or good for the staff.

[Jack Crevici Kramer]

And this does seem good for the staff, right? This kind of policy discourages employee theft. If you're allowed to make your own Birkin for yourself, there's less incentive to swipe one when no one's looking.

[Nick Martell]

But here's the plot twist. In 2008, a handful of Hermes employees decide they're less interested in the bags for themselves and more interested in making those dolla dolla bills in that secondary market. So they work together to funnel hundreds of bon au personnel bags to buyers in Asia over four years.

[Jack Crevici Kramer]

These insiders sell around 800 of these personal bags in the Asian market. And because it works, they go further. And they set up secret workshops in France and Hong Kong to make more unsanctioned bags with stolen materials.

[Nick Martell]

The employees in the factories of Hermes start squirreling away extra leather and hardware here and there. They're going full Shawshank redemption on this thing. And they're siphoning off materials bit by bit.

[Jack Crevici Kramer]

One employee supplies them with her amaze signature orange boxes. Another gets them hooked up with a dealer of exotic animal hides. They charge around two thirds of the retail price. Say, $30,000 for an exotic hide bag that's worth $45,000 in the store.

[Nick Martell]

It's totally illegal, but it is clever pricing. It's enough of a markdown for luxury shoppers to be interested, but it's still high enough to be believable, right?

[Jack Crevici Kramer]

If I see a Birkin on sale on Canal street for 50 bucks, I know it's a fake. But a $45,000 bag marked down to 30,000 seems like this is probably the real deal.

[Nick Martell]

And remember, in all material ways, these counterfeit bags are the real thing. Same leather, same hardware, same expert crafters. But instead of being sold by Hermes, these rogue employees have set up URLs that seem like outlet stores like airmazeoutletstore.com or this is real. The fake nonprofit Hermes.

[Jack Crevici Kramer]

Birkin-bags.org By the way, don't bother typing in those URLs, because if you do, you'll see a message telling you that the websites have been shut down and that Hermes has taken legal action.

[Nick Martell]

Speaking of legal action, of course these guys get caught.

[Jack Crevici Kramer]

In fact, there are two different trials in France in 2020 involving Hermes counterfeit rings.

[Nick Martell]

Hermes is actually awarded more than $13 million in damages, and 33 people, including 16 ex Hermes employees, go to jail.

[Jack Crevici Kramer]

Still, the French government estimates that the amount made by the counterfeiters was more than $22 million.

[Nick Martell]

Hermes continues to do battle with the fakers to this day, under the leadership of current CEO Axel Dumas. That's the son of Jean Louis Dumas, Jane Birkin's seatmate from the beginning of our story.

[Jack Crevici Kramer]

And that battle wages on thanks to products like the Working bag. That's Walmart's attempt at a Birkin dupe, and it retails for just 78 bucks.

[Nick Martell]

It's still kind of a legal gray area there. You know, it's a working man's Birkin. Its official name isn't the Work, and by the way, it's the Kamugo Genuine leather handbag. But whatever the name, when it hits Walmart's website, this dupe immediately sold out. And we know why.

[Jack Crevici Kramer]

Is it possible the Working gets a scarcity bump of its own? Only time will tell.

[Nick Martell]

Even with the counterfeits, the dupes, and the knockoffs in this market, even after 40 years and half a dozen recessions, Birkin bags have grown sales every single year. And they have never been more coveted than today. Just ask our buddy Shibuzi. Real Birkins, along with their sister bag, the Kelly, have helped launch Hermes, the company to the very top of the luxury sector. And these two bags now account for 25% of Hermes total revenue.

[Jack Crevici Kramer]

The other 75%, covering everything from jewelry and fashion to home furnishings and fragrances.

[Nick Martell]

This past April, Hermes surpassed LVMH Louis Vuitton to become the number one luxury stock in the world by market cap. And here's why that's so notable. Hermes is a much smaller company. They do a fraction of the sales of lvmh, and yet they just surpassed LVMH in valuation.

[Jack Crevici Kramer]

More Specifically, Hermes did $15 billion in sales last year, while LVMH did six times that. And yet Hermes is basically worth the same amount.

[Nick Martell]

And Hermes is accomplishing all of this without selling any Kelly or any Birkin bags online. And, Jack, that only fuels the demand even more, since you've got to plan a trip just to get on the wait list. I mean, wish list. But if you do finally secure that holy grail handbag, oh, it pays for itself.

[Jack Crevici Kramer]

Because get this. Analysts have found that the value of Birkins has grown faster than the S&P 500. Just owning a Birkin bag, it gains value. It appreciates between 14 and 38% per year. You would have a better return owning a Birkin bag than investing in the stock market or in fine art.

[Nick Martell]

Okay, so what you're saying is to pull all of my assets out of insurance companies and railroads and double down on these handbags?

[Jack Crevici Kramer]

I think I'm saying that Nick Birkins are officially the bitcoin of bags.

[Nick Martell]

One sec, Jack. I gotta call my broker. This isn't financial advice. But the Birkin is my new 401K. So, Jack, now that you've heard the story of the Birkin bag and Hermes, what's your takeaway?

[Jack Crevici Kramer]

The formula for making a holy Grail product? Scarcity plus quality times friction. Scarcity just means you don't make that many. Like when Enzo Ferrari insisted on making one fewer car than the market demands.

[Nick Martell]

Okay, and then, Jack, there's quality, which is what makes your product valuable. Long term scarcity alone can drive up short term demand. When a product's on trend, think the beanie babies. But without elevated product quality, the trends move on. Demand collapses, and what was trendy turns into a fad.

[Jack Crevici Kramer]

Finally, there's friction. How hard does your customer need to work to get your product now? Most of the time, friction is considered bad for business. You want to make it as easy as possible for your customers customer to buy your product. But when you're also leveraging scarcity and quality, friction is key to selling the experience. Scoring a Birkin becomes more than a transaction. It's an adventure. Like Indiana Jones trying to get to the Holy grail.

[Nick Martell]

Scarcity plus quality multiplied by friction.

[Jack Crevici Kramer]

That's it. What about you, Nick? What's your takeaway?

[Nick Martell]

Time is our greatest weapon. It's a quote from Jean Louis Dumas, the former head of Hermes. The one who sat beside Jane Birkin on that plane ride. You see, everything about Hermes really comes down to time. From the 18 hours it takes to craft a Birkin, to the two years it takes to train the artisan, to the nearly 200 years that the brand has been around.

[Jack Crevici Kramer]

And don't forget the years you might spend on the wait list.

[Nick Martell]

Sorry, wish list. Yeah, it's five more right there. They refuse to rush their product or their process. And in a world of Temu, Shein, H and M, Amazon prime and same day delivery, Hermes insists that you take your time. Don't call them, they call you.

[Jack Crevici Kramer]

In a fast fashion, instant, one click world. Time is heritage. It's the ultimate brand differentiator. You can change price, you can change the design, but you can't change the founding date of a company. Time, in every sense, is Hermes greatest weapon.

[Nick Martell]

Before we go, it is time for our favorite part of the show. The best, best facts yet.

[Jack Crevici Kramer]

These are the hero stats, the facts and the surprises that we discovered in our research but couldn't fit in the story.

[Nick Martell]

All right, Jack, what have you got in your bag? Open it up over there, man.

[Jack Crevici Kramer]

Remember Jane's very first Birkin, the one she was gifted by Hermes? Well, after using it for years, she donated it to a French AIDS charity in 1994. Then she bought a new Birkin bag and used that one until it was beaten up and ready to be donated. She kept doing this to raise money for good causes. In 2011, one of her Birkins raised $162,000 for tsunami relief after the Fukushima disaster in Japan.

[Nick Martell]

But the story of Jane's original bag, it ain't finished, is it, Jack?

[Jack Crevici Kramer]

No, it's not. Because just this past July, that very first Birkin, the one she auctioned off in the 90s, was auctioned again by Sotheby's in Paris.

[Nick Martell]

Final price, $10.1 million, making it officially the most expensive handbag ever sold at auction.

[Jack Crevici Kramer]

When Jane Birkin died in 2023, she was remembered with loving fondness by everyone. And every obituary for Jane had to mention the famous bag.

[Nick Martell]

Priceless bag named for a priceless person. And I got one surprise for you, Jack. I put in a little request. What? I called up that Hermes store on Madison Avenue.

[Jack Crevici Kramer]

Am I on the wish list?

[Nick Martell]

I asked if they would make a flannel lined Birkin for my co host best friend over there. And you know what they said? What did they say? They said, buy some 100 socks and we'll call you. Oh, you're on the list. This is a legendary surprise. Thank you. And that yetis, is why the Hermes.

[Jack Crevici Kramer]

Birkin bag is the best Idea yet. Coming up on the next episode of the Best Idea Yet. We're stepping up to the plate and taking a swing at the most beloved.

[Nick Martell]

And most behated team in baseball.

[Jack Crevici Kramer]

We're talking about the Yankees. Follow the Best Idea yet on the Wondery app, Amazon Music, or wherever you get your podcasts. You can listen to every episode of the Best Idea yet early and ad free right now by joining Wondery plus in the Wondery app or on Apple podcasts.

[Nick Martell]

Before you go, tell us about yourself by filling out a short [e-mail] survey. The best idea yet is a production of Wondery hosted by me, Nick Martel.

[Jack Crevici Kramer]

And me, Jack Crevici Kramer. Our senior producers are Matt Beagle and Chris Gautier.

[Nick Martell]

Peter Arconi is our additional senior producer.

[Jack Crevici Kramer]

Our senior managing producer is Nick Ryan. And Taylor Sniffin is our managing producer.

[Nick Martell]

Our producer is H. Conley. Research by Brent Corson.

[Jack Crevici Kramer]

This episode was written and produced by Katie Clark Grey.

[Nick Martell]

We used many sources in our research including Jane Birkin's interview with Christiane Amanpour for cnn. Then the history of the hero the Hermes Birkin by Amy de Klerk and Natalie Hughes for Harper's Bazaar Sound design.

[Jack Crevici Kramer]

And mixing by CJ Drummler Fact checking by Brian Pognan Music Music supervision by Scott Velazquez and Jolina Garcia for Freesond.

[Nick Martell]

Sync Our theme song is Got that Feeling Again by Blackalac. Executive producers for Nick and Jack studios are me, Nick Martell and me Jack Revici Kramer. Executive producers for Wondery are Jenny Lauer, Beckman, Aaron o' Flaherty and Marshall Louie.