Independent supply is also one of the competitive advantages that Hermes possesses. They
have their own crocodile farm which brings them high quality materials with cheaper prices. This
resource is valuable, rare, and costly to duplicate. Hermes also has loyal customers who do not mind buying expensive items with long waiting times. A lot of extremely rich customers prefer to own a
$7,000 to $140,000 Birkin Bag even though they have to wait up to 6 years or longer. This fact
proved how loyal Hermes’s customers are. They do not mind waiting for a long time to get the
products that they want because they know it is worth it.