Pierre-Alexis Dumas is a sixth-generation descendant in the luxury Hermès empire known for its Birkin and Kelly bags. He insists the handbags aren't expensive, they're just costly. Forking out five figures for a handbag might seem an outrageous sum to many—but the artistic director of Hermès insists there's a difference between cost and expense.

Hermès doesn’t belong in the world of speed and mass production. But that doesn’t mean it won’t change how it operates over time as startups do.